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

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

A number of other equities analysts have also recently issued reports on the company. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a report on Tuesday, June 4th. Capital One Financial lowered GlycoMimetics from an overweight rating to an equal weight rating in a research report on Monday, May 6th.

GlycoMimetics Stock Up 2.6 %

GLYC opened at $0.24 on Thursday. The business has a fifty day moving average of $0.28 and a 200 day moving average of $1.71. GlycoMimetics has a 52-week low of $0.20 and a 52-week high of $3.53. The stock has a market cap of $15.55 million, a P/E ratio of -0.42 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Equities analysts anticipate that GlycoMimetics will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at GlycoMimetics

In other news, insider Edwin Rock bought 190,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of $0.25 per share, with a total value of $47,500.00. Following the transaction, the insider now directly owns 565,403 shares in the company, valued at approximately $141,350.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares in the last quarter. Advisor OS LLC bought a new position in shares of GlycoMimetics in the 4th quarter worth $238,000. Finally, MJP Associates Inc. ADV bought a new position in shares of GlycoMimetics in the 4th quarter worth $238,000. 75.19% of the stock is owned by institutional investors.

GlycoMimetics Company Profile

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.