GlycoMimetics Inc. (GLYC) Sees Large Volume Increase
Shares of GlycoMimetics Inc. (NASDAQ:GLYC) saw unusually-strong trading volume on Friday . Approximately 138,599 shares traded hands during trading, an increase of 86% from the previous session’s volume of 74,443 shares.The stock last traded at $8.33 and had previously closed at $8.47.
Several analysts have recently weighed in on GLYC shares. Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Canaccord Genuity restated a “buy” rating and issued a $12.00 price objective on shares of GlycoMimetics in a report on Wednesday, May 4th. Finally, SunTrust Banks Inc. assumed coverage on GlycoMimetics in a report on Tuesday, July 26th. They issued a “buy” rating and a $16.00 price objective for the company.
The stock’s market capitalization is $161.57 million. The firm’s 50 day moving average is $7.43 and its 200-day moving average is $6.30.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.07. Analysts anticipate that GlycoMimetics Inc. will post ($1.73) EPS for the current fiscal year.
In other GlycoMimetics news, CMO Helen M. Thackray sold 22,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was 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 directly owns 179,547 shares in the company, valued at approximately $1,256,829. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
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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