GlycoMimetics Inc. (GLYC) Stock Price Down 6.7%
Shares of GlycoMimetics Inc. (NASDAQ:GLYC) traded down 6.7% during mid-day trading on Monday . The company traded as low as $7.55 and last traded at $7.85, with a volume of 53,310 shares. The stock had previously closed at $8.41.
A number of analysts have recently issued reports on the stock. Canaccord Genuity restated a “buy” rating and set a $12.00 target price on shares of GlycoMimetics in a research note on Sunday. Jefferies Group restated a “buy” rating on shares of GlycoMimetics in a research note on Friday. Stifel Nicolaus raised their target price on shares of GlycoMimetics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. SunTrust Banks Inc. assumed coverage on shares of GlycoMimetics in a research note on Tuesday, July 26th. They set a “buy” rating and a $16.00 target price for the company. Finally, Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “strong-buy” rating and set a $7.75 target price for the company in a research note on Thursday, July 7th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $12.35.
The company has a 50-day moving average price of $7.61 and a 200-day moving average price of $6.47. The firm’s market cap is $180.99 million.
In other GlycoMimetics news, CMO Helen M. Thackray sold 22,000 shares of the business’s 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 sale, the chief marketing officer now 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 accessible 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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