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

Equities researchers at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued on Sunday. The firm set a “sell” rating on the biotechnology company’s stock.

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

GlycoMimetics Stock Down 3.8 %

Shares of GlycoMimetics stock opened at $0.21 on Friday. The stock’s fifty day simple moving average is $0.27 and its 200 day simple moving average is $0.26. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.16.

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

Institutional Trading of GlycoMimetics

A number of institutional investors have recently modified their holdings of the company. Caxton Corp bought a new position in shares of GlycoMimetics during the 4th quarter worth approximately $51,000. ADAR1 Capital Management LLC boosted its holdings in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in GlycoMimetics in the fourth quarter valued at $106,000. Wellington Management Group LLP acquired a new stake in GlycoMimetics in the 4th quarter valued at $352,000. Finally, VR Adviser LLC acquired a new stake in GlycoMimetics in the 4th quarter valued at $747,000. 75.19% of the stock is currently owned by 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.