GlycoMimetics (NASDAQ:GLYC) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note released on Wednesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on GLYC. HC Wainwright reiterated a neutral rating on shares of GlycoMimetics in a report on Monday, May 6th. Capital One Financial lowered GlycoMimetics from an overweight rating to an equal weight rating in a report on Monday, May 6th.

GlycoMimetics Stock Performance

Shares of NASDAQ:GLYC opened at $0.27 on Wednesday. The stock has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $2.24. GlycoMimetics has a 12-month low of $0.26 and a 12-month high of $3.53. The stock has a market capitalization of $17.40 million, a price-to-earnings ratio of -0.47 and a beta of 2.30.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $0.01 million for the quarter. As a group, equities research analysts predict that GlycoMimetics will post -0.63 EPS for the current year.

Institutional Investors Weigh In On GlycoMimetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acuta Capital Partners LLC bought a new position in shares of GlycoMimetics during the 3rd quarter valued at $41,000. Advisor OS LLC bought a new position in GlycoMimetics in the fourth quarter valued at about $238,000. MJP Associates Inc. ADV purchased a new position in GlycoMimetics in the fourth quarter worth about $238,000. Finally, Vanguard Group Inc. grew its stake in shares of GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after purchasing an additional 340,112 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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