GlycoMimetics Inc. (GLYC) Sees Unusually-High Trading Volume
GlycoMimetics Inc. (NASDAQ:GLYC) shares saw unusually-strong trading volume on Friday . Approximately 138,599 shares changed hands during mid-day 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.
A number of equities analysts have recently issued reports on GLYC shares. SunTrust Banks Inc. started coverage on shares of GlycoMimetics in a research note on Tuesday. They issued a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research upgraded shares of 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. Finally, Canaccord Genuity restated a “buy” rating and issued a $12.00 price objective on shares of GlycoMimetics in a research note on Wednesday, May 4th.
The stock has a 50 day moving average price of $7.43 and a 200 day moving average price of $6.30. The stock’s market capitalization is $161.57 million.
GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Wednesday, May 4th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.07. On average, equities analysts expect that GlycoMimetics Inc. will post ($1.73) earnings per share for the current fiscal year.
In other GlycoMimetics news, CMO Helen M. Thackray sold 22,000 shares of GlycoMimetics stock in a transaction on 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 directly owns 179,547 shares of the company’s stock, valued at $1,256,829. The transaction was disclosed in a document filed with the SEC, 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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