GlycoMimetics Inc. (GLYC) Trading Down 5.2%
Shares of GlycoMimetics Inc. (NASDAQ:GLYC) fell 5.2% during mid-day trading on Wednesday . The company traded as low as $7.00 and last traded at $7.15, with a volume of 53,095 shares traded. The stock had previously closed at $7.54.
A number of brokerages have issued reports on GLYC. Zacks Investment Research raised GlycoMimetics from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research note on Thursday, July 7th. Canaccord Genuity reissued a “buy” rating and issued a $12.00 price target on shares of GlycoMimetics in a research note on Wednesday, May 4th.
The company has a 50-day moving average price of $7.49 and a 200-day moving average price of $6.09. The stock’s market cap is $138.55 million.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.40) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.07. Analysts anticipate that GlycoMimetics Inc. will post ($1.82) earnings per share for the current year.
In other news, CMO Helen M. Thackray sold 22,000 shares of the business’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 sale, the chief marketing officer now owns 179,547 shares of the company’s stock, valued at approximately $1,256,829. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.