GlycoMimetics Inc (NASDAQ:GLYC)’s share price was up 5.9% during trading on Thursday . The company traded as high as $20.18 and last traded at $20.03. Approximately 532,400 shares changed hands during trading, a decline of 2% from the average daily volume of 543,000 shares. The stock had previously closed at $18.92.
A number of equities analysts have recently weighed in on GLYC shares. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, November 13th. Roth Capital started coverage on shares of GlycoMimetics in a research note on Monday, October 23rd. They set a “buy” rating and a $25.00 price target on the stock. SunTrust Banks upped their price target on shares of GlycoMimetics to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a research note on Wednesday, December 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 price target on shares of GlycoMimetics in a research note on Thursday, December 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.00.
The firm has a market capitalization of $649.67, a P/E ratio of -16.78 and a beta of 3.21.
In related news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $15.01, for a total value of $30,020.00. Following the sale, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at approximately $2,230,711.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 43.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in GlycoMimetics by 85.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,859,079 shares of the biotechnology company’s stock valued at $20,747,000 after acquiring an additional 859,100 shares during the last quarter. FMR LLC purchased a new position in GlycoMimetics in the 2nd quarter valued at about $16,780,000. Vanguard Group Inc. lifted its holdings in GlycoMimetics by 94.3% in the 2nd quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock valued at $9,421,000 after purchasing an additional 409,689 shares in the last quarter. Redmile Group LLC purchased a new position in GlycoMimetics in the 2nd quarter valued at about $6,692,000. Finally, Janus Henderson Group PLC purchased a new position in GlycoMimetics in the 2nd quarter valued at about $5,598,000. 86.66% of the stock is currently owned by hedge funds and other institutional investors.
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GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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