MJP Associates Inc. ADV Makes New $238,000 Investment in GlycoMimetics, Inc. (NASDAQ:GLYC)

MJP Associates Inc. ADV bought a new stake in GlycoMimetics, Inc. (NASDAQ:GLYC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 101,000 shares of the biotechnology company’s stock, valued at approximately $238,000. MJP Associates Inc. ADV owned approximately 0.16% of GlycoMimetics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLYC. Acuta Capital Partners LLC acquired a new stake in shares of GlycoMimetics in the third quarter valued at about $41,000. Marshall Wace LLP acquired a new position in shares of GlycoMimetics during the 4th quarter worth approximately $633,000. Two Sigma Investments LP raised its stake in shares of GlycoMimetics by 69.7% during the 1st quarter. Two Sigma Investments LP now owns 370,569 shares of the biotechnology company’s stock worth $467,000 after purchasing an additional 152,206 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of GlycoMimetics by 20.4% in the 2nd quarter. Renaissance Technologies LLC now owns 566,400 shares of the biotechnology company’s stock valued at $339,000 after buying an additional 95,800 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in GlycoMimetics by 7.5% during the second quarter. Millennium Management LLC now owns 434,655 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 30,466 shares during the period. 75.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GLYC shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of GlycoMimetics in a research report on Wednesday. Capital One Financial reiterated an “overweight” rating on shares of GlycoMimetics in a research report on Thursday, February 22nd. Finally, StockNews.com downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th.

GlycoMimetics Price Performance

NASDAQ:GLYC traded down $0.18 during trading hours on Thursday, reaching $3.00. 648,130 shares of the company were exchanged, compared to its average volume of 353,535. The company has a market capitalization of $193.35 million, a P/E ratio of -4.71 and a beta of 2.19. The business has a 50 day moving average of $3.00 and a 200 day moving average of $2.18. GlycoMimetics, Inc. has a 1-year low of $1.11 and a 1-year high of $3.53.

About GlycoMimetics

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.