GlycoMimetics Inc. (GLYC) Shares Up 5.8%
GlycoMimetics Inc. (NASDAQ:GLYC) shot up 5.8% during trading on Monday . The stock traded as high as $8.59 and last traded at $8.59, with a volume of 53,867 shares. The stock had previously closed at $8.12.
Several brokerages recently commented on GLYC. Zacks Investment Research cut GlycoMimetics from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Canaccord Genuity reissued a “buy” rating and set a $12.00 target price on shares of GlycoMimetics in a report on Wednesday, May 4th.
The stock’s 50-day moving average is $7.41 and its 200-day moving average is $6.22. The company’s market cap is $166.41 million.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.07. Equities analysts forecast that GlycoMimetics Inc. will post ($1.82) EPS for the current fiscal year.
In other GlycoMimetics news, CMO Helen M. Thackray sold 22,000 shares of GlycoMimetics stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $7.00, for a total value of $154,000.00. Following the completion of the sale, the chief marketing officer now owns 179,547 shares in the company, valued at approximately $1,256,829. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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