John L. Magnani Sells 25,000 Shares of GlycoMimetics Inc (GLYC) Stock

GlycoMimetics Inc (NASDAQ:GLYC) SVP John L. Magnani sold 25,000 shares of GlycoMimetics stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $14.01, for a total value of $350,250.00. Following the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ GLYC opened at $14.15 on Friday. GlycoMimetics Inc has a one year low of $10.25 and a one year high of $26.05. The stock has a market capitalization of $601.08 million, a price-to-earnings ratio of -12.52 and a beta of 3.23.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Friday, August 10th. The biotechnology company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. As a group, equities research analysts forecast that GlycoMimetics Inc will post -1.24 EPS for the current fiscal year.

A number of research analysts have commented on GLYC shares. ValuEngine upgraded GlycoMimetics from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 8th. BidaskClub downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Cowen restated a “buy” rating on shares of GlycoMimetics in a research note on Monday, August 13th. Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $24.00 target price on shares of GlycoMimetics in a research note on Sunday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System purchased a new position in GlycoMimetics in the first quarter valued at about $166,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of GlycoMimetics during the 2nd quarter worth about $189,000. Voya Investment Management LLC bought a new stake in shares of GlycoMimetics during the 2nd quarter worth about $205,000. TD Asset Management Inc. boosted its stake in shares of GlycoMimetics by 22.5% during the 2nd quarter. TD Asset Management Inc. now owns 69,172 shares of the biotechnology company’s stock worth $1,116,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of GlycoMimetics by 21.3% during the 1st quarter. Northern Trust Corp now owns 84,511 shares of the biotechnology company’s stock worth $1,372,000 after acquiring an additional 14,868 shares in the last quarter.

About GlycoMimetics

GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.

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