GlycoMimetics (GLYC) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “

Other analysts have also recently issued reports about the stock. BidaskClub raised shares of GlycoMimetics from a sell rating to a hold rating in a report on Tuesday, November 6th. Roth Capital set a $35.00 target price on shares of GlycoMimetics and gave the company a buy rating in a report on Monday, November 5th. ValuEngine cut shares of GlycoMimetics from a strong-buy rating to a buy rating in a report on Tuesday, November 27th. Finally, HC Wainwright initiated coverage on shares of GlycoMimetics in a report on Tuesday, December 18th. They set a buy rating and a $24.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $23.75.

GLYC opened at $11.32 on Tuesday. GlycoMimetics has a twelve month low of $8.29 and a twelve month high of $26.05. The company has a market cap of $477.96 million, a PE ratio of -10.02 and a beta of 2.82.

Hedge funds have recently made changes to their positions in the business. Prentiss Smith & Co. Inc. increased its stake in shares of GlycoMimetics by 42.9% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 3,000 shares in the last quarter. WINTON GROUP Ltd bought a new position in GlycoMimetics during the third quarter valued at $186,000. GSA Capital Partners LLP bought a new position in GlycoMimetics during the fourth quarter valued at $204,000. Voya Investment Management LLC bought a new position in GlycoMimetics during the second quarter valued at $205,000. Finally, Virtus ETF Advisers LLC lifted its position in GlycoMimetics by 3.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 29,862 shares of the biotechnology company’s stock valued at $283,000 after purchasing an additional 1,057 shares during 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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