GlycoMimetics Inc. (GLYC) Trading Down 2.5%
Shares of GlycoMimetics Inc. (NASDAQ:GLYC) traded down 2.5% during trading on Friday . The company traded as low as $7.38 and last traded at $7.82, with a volume of 93,758 shares changing hands. The stock had previously closed at $8.02.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Tuesday, May 10th. Jefferies Group reaffirmed a “buy” rating on shares of GlycoMimetics in a research report on Friday, August 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price target on shares of GlycoMimetics in a research report on Sunday, August 7th. SunTrust Banks Inc. assumed coverage on shares of GlycoMimetics in a research report on Tuesday, July 26th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Cowen and Company assumed coverage on shares of GlycoMimetics in a research report on Monday, August 15th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. GlycoMimetics has an average rating of “Buy” and an average price target of $12.35.
The company’s market cap is $181.91 million. The stock has a 50-day moving average price of $7.91 and a 200-day moving average price of $6.65.
In other 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 sale, the chief marketing officer now directly owns 179,547 shares of the company’s stock, valued at approximately $1,256,829. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.