GlycoMimetics (GLYC) Trading -5.4% Higher
Shares of GlycoMimetics Inc (NASDAQ:GLYC) traded up 5.4% on Thursday . The company traded as high as $24.00 and last traded at $22.52. 375,622 shares changed hands during trading, a decline of 36% from the average session volume of 585,053 shares. The stock had previously closed at $23.81.
A number of analysts have recently weighed in on the company. Roth Capital set a $35.00 price objective on GlycoMimetics and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research lowered GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 16th. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Jefferies Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of GlycoMimetics in a research report on Thursday, October 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 price objective on shares of GlycoMimetics in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. GlycoMimetics currently has an average rating of “Buy” and an average target price of $22.67.
The firm has a market capitalization of $756.46, a PE ratio of -18.00 and a beta of 3.40.
In related news, SVP Helen M. Thackray sold 2,000 shares of GlycoMimetics stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the completion of the sale, the senior vice president now owns 148,615 shares of the company’s stock, valued at approximately $2,230,711.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 43.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in GlycoMimetics in the 4th quarter worth about $103,000. First Mercantile Trust Co. boosted its stake in GlycoMimetics by 26.6% in the 4th quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 2,466 shares during the period. Fox Run Management L.L.C. bought a new position in GlycoMimetics in the 3rd quarter worth about $173,000. Virtu Financial LLC bought a new position in GlycoMimetics in the 4th quarter worth about $210,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in GlycoMimetics in the 2nd quarter worth about $146,000. Institutional investors and hedge funds own 86.61% of the company’s stock.
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GlycoMimetics Company Profile
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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