GlycoMimetics (NASDAQ:GLYC) Stock Passes Below 200 Day Moving Average – Here’s What Happened

GlycoMimetics, Inc. (NASDAQ:GLYC) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.25 and traded as low as $0.24. GlycoMimetics shares last traded at $0.27, with a volume of 154,034 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on GlycoMimetics in a report on Thursday. They set a “sell” rating for the company.

GlycoMimetics Trading Up 8.5 %

The company has a fifty day moving average price of $0.27 and a 200 day moving average price of $0.25.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. On average, sell-side analysts expect that GlycoMimetics, Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caxton Corp purchased a new position in shares of GlycoMimetics during the fourth quarter valued at approximately $51,000. ADAR1 Capital Management LLC boosted its position in shares of GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 286,127 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of GlycoMimetics during the fourth quarter valued at approximately $106,000. Wellington Management Group LLP purchased a new position in shares of GlycoMimetics during the fourth quarter valued at approximately $352,000. Finally, VR Adviser LLC purchased a new position in GlycoMimetics in the fourth quarter worth $747,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.