StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued to investors on Saturday morning. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald assumed coverage on GlycoMimetics in a report on Friday, March 21st. They issued an “overweight” rating for the company.

GlycoMimetics Trading Down 1.1%

GLYC stock opened at $0.25 on Friday. The firm has a market cap of $15.94 million, a PE ratio of -0.54 and a beta of 1.70. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $0.63. The company has a fifty day simple moving average of $0.24 and a 200 day simple moving average of $0.27.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. As a group, analysts forecast that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. boosted its holdings in GlycoMimetics by 38.0% during the first quarter. Jefferies Financial Group Inc. now owns 585,000 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 161,223 shares during the period. Caxton Corp acquired a new position in shares of GlycoMimetics during the 4th quarter worth about $51,000. ADAR1 Capital Management LLC boosted its stake in GlycoMimetics by 626.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 286,127 shares during the period. Wellington Management Group LLP acquired a new stake in GlycoMimetics in the 4th quarter valued at approximately $352,000. Finally, VR Adviser LLC bought a new position in GlycoMimetics in the 4th quarter worth approximately $747,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

About GlycoMimetics

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.