GlycoMimetics Inc. (GLYC) Sees Unusually-High Trading Volume
GlycoMimetics Inc. (NASDAQ:GLYC) shares saw unusually-strong trading volume on Tuesday . Approximately 112,466 shares changed hands during trading, an increase of 70% from the previous session’s volume of 66,207 shares.The stock last traded at $7.97 and had previously closed at $8.01.
A number of research analysts have commented on GLYC shares. Canaccord Genuity restated a “buy” rating and set a $12.00 price objective on shares of GlycoMimetics in a research note on Sunday, August 7th. Jefferies Group restated a “buy” rating on shares of GlycoMimetics in a research note on Friday, August 5th. Stifel Nicolaus boosted their price objective on GlycoMimetics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. SunTrust Banks Inc. started coverage on GlycoMimetics in a research note on Tuesday, July 26th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Zacks Investment Research upgraded GlycoMimetics from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $12.35.
The company has a 50-day moving average of $7.84 and a 200-day moving average of $6.60. The firm’s market cap is $183.76 million.
In other news, CMO Helen M. Thackray sold 22,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were 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 of the company’s stock, valued at $1,256,829. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
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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