GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report sent to investors on Monday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald started coverage on GlycoMimetics in a research note on Friday, March 21st. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

GlycoMimetics Trading Up 4.6 %

Shares of GLYC opened at $0.19 on Monday. The stock has a fifty day moving average of $0.26 and a 200-day moving average of $0.26. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $2.73.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. bought a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $1,268,000. VR Adviser LLC purchased a new position in shares of GlycoMimetics during the 4th quarter valued at $747,000. Wellington Management Group LLP bought a new position in shares of GlycoMimetics during the 4th quarter worth $352,000. Jefferies Financial Group Inc. purchased a new stake in GlycoMimetics in the 4th quarter worth about $106,000. Finally, ADAR1 Capital Management LLC raised its stake in GlycoMimetics by 626.1% in the 4th 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. 75.19% of the stock is currently 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.