GlycoMimetics Inc. (GLYC) Trading 5.3% Higher
GlycoMimetics Inc. (NASDAQ:GLYC)’s share price traded up 5.3% during trading on Monday . The stock traded as high as $8.85 and last traded at $8.79, with a volume of 80,497 shares changing hands. The stock had previously closed at $8.35.
Several equities analysts have commented on the stock. Canaccord Genuity reissued a “buy” rating and issued a $12.00 target price on shares of GlycoMimetics in a report on Wednesday, May 4th. Zacks Investment Research raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, SunTrust Banks Inc. started coverage on shares of GlycoMimetics in a report on Tuesday, July 26th. They issued a “buy” rating and a $16.00 target price on the stock.
The company’s market cap is $171.05 million. The stock’s 50 day moving average is $7.44 and its 200 day moving average is $6.35.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.07. On average, equities research analysts anticipate that GlycoMimetics Inc. will post ($1.73) earnings per share for the current fiscal year.
In related news, CMO Helen M. Thackray sold 22,000 shares of the stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $7.00, for a total transaction of $154,000.00. Following the completion of the transaction, the chief marketing officer now owns 179,547 shares in the company, valued at $1,256,829. The transaction was disclosed in a document filed with the SEC, which is available 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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