GlycoMimetics Inc. (GLYC) Trading Down 2.5%
GlycoMimetics Inc. (NASDAQ:GLYC) shares fell 2.5% during mid-day trading on Friday . The stock traded as low as $7.38 and last traded at $7.82, with a volume of 93,758 shares trading hands. The stock had previously closed at $8.02.
Several brokerages have issued reports on GLYC. Canaccord Genuity restated a “buy” rating and set a $12.00 target price on shares of GlycoMimetics in a research report on Wednesday, May 4th. Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Jefferies Group restated a “buy” rating on shares of GlycoMimetics in a research report on Friday, August 5th. Cowen and Company began coverage on GlycoMimetics in a research report on Monday. They set an “outperform” rating for the company. Finally, SunTrust Banks Inc. began coverage on GlycoMimetics in a research report on Tuesday, July 26th. They set a “buy” rating and a $16.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $12.35.
The company’s market capitalization is $181.91 million. The firm’s 50 day moving average is $7.91 and its 200-day moving average is $6.65.
In related news, CMO Helen M. Thackray sold 22,000 shares of the company’s 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 approximately $1,256,829. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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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