GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report issued on Thursday. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald assumed coverage on shares of GlycoMimetics in a report on Friday, March 21st. They issued an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, GlycoMimetics presently has an average rating of “Hold”.

GlycoMimetics Price Performance

Shares of GLYC opened at $0.26 on Thursday. The company’s fifty day moving average price is $0.24 and its 200-day moving average price is $0.27. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $1.84. The firm has a market capitalization of $16.95 million, a PE ratio of -0.45 and a beta of 1.74.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.05. As a group, research analysts anticipate that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On GlycoMimetics

Several hedge funds have recently added to or reduced their stakes in GLYC. Wellington Management Group LLP acquired a new position in shares of GlycoMimetics in the 4th quarter valued at about $352,000. Adage Capital Partners GP L.L.C. purchased a new position in GlycoMimetics during the fourth quarter valued at approximately $1,268,000. ADAR1 Capital Management LLC lifted its holdings in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 286,127 shares during the period. Jefferies Financial Group Inc. purchased a new stake in GlycoMimetics in the 4th quarter worth approximately $106,000. Finally, VR Adviser LLC acquired a new stake in shares of GlycoMimetics during the 4th quarter worth approximately $747,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

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