HC Wainwright Comments on GlycoMimetics, Inc.’s Q1 2024 Earnings (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Research analysts at HC Wainwright issued their Q1 2024 EPS estimates for shares of GlycoMimetics in a note issued to investors on Wednesday, March 27th. HC Wainwright analyst E. White anticipates that the biotechnology company will earn ($0.14) per share for the quarter. HC Wainwright has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.56) per share. HC Wainwright also issued estimates for GlycoMimetics’ Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.57) EPS and FY2025 earnings at ($0.15) EPS.

GLYC has been the subject of several other reports. StockNews.com lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Capital One Financial restated an “overweight” rating on shares of GlycoMimetics in a report on Thursday, February 22nd.

GlycoMimetics Trading Down 5.7 %

Shares of NASDAQ GLYC opened at $3.00 on Friday. GlycoMimetics has a 12 month low of $1.11 and a 12 month high of $3.53. The firm has a market capitalization of $193.35 million, a PE ratio of -5.17 and a beta of 2.19. The firm has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $2.18.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new position in shares of GlycoMimetics in the 1st quarter worth about $30,000. Acuta Capital Partners LLC purchased a new stake in GlycoMimetics during the 3rd quarter valued at about $41,000. XTX Topco Ltd purchased a new stake in GlycoMimetics during the 2nd quarter valued at about $52,000. Charles Schwab Investment Management Inc. purchased a new stake in GlycoMimetics during the 4th quarter valued at about $68,000. Finally, Jane Street Group LLC purchased a new stake in GlycoMimetics during the 4th quarter valued at about $75,000. 75.19% of the stock is currently owned by institutional investors.

About GlycoMimetics

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.