GlycoMimetics Inc. (GLYC) Shares Gap Up to $8.02
GlycoMimetics Inc. (NASDAQ:GLYC) shares gapped up before the market opened on Monday . The stock had previously closed at $7.92, but opened at $8.02. GlycoMimetics shares last traded at $8.13, with a volume of 17,024 shares traded.
Several research analysts recently commented on GLYC shares. Zacks Investment Research raised GlycoMimetics from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Tuesday, May 10th. Jefferies Group reissued a “buy” rating on shares of GlycoMimetics in a research note on Friday, August 5th. SunTrust Banks Inc. started coverage on GlycoMimetics in a research note on Tuesday, July 26th. They issued a “buy” rating and a $16.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and issued a $12.00 price objective on shares of GlycoMimetics in a research note on Sunday, August 7th. Finally, Stifel Nicolaus increased their price objective on GlycoMimetics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. GlycoMimetics has an average rating of “Buy” and an average target price of $12.35.
The stock’s 50 day moving average is $7.80 and its 200 day moving average is $6.58. The company’s market capitalization is $184.68 million.
In other GlycoMimetics news, CMO Helen M. Thackray sold 22,000 shares of GlycoMimetics stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available at 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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