GlycoMimetics (NASDAQ:GLYC) Downgraded by TD Cowen

TD Cowen cut shares of GlycoMimetics (NASDAQ:GLYC) from a buy rating to a hold rating in a research report released on Friday, Marketbeat reports.

A number of other analysts have also recently issued reports on the company. StockNews.com initiated coverage on GlycoMimetics in a research report on Thursday, July 25th. They issued a sell rating for the company. HC Wainwright reiterated a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. Finally, Capital One Financial cut shares of GlycoMimetics from an overweight rating to an equal weight rating in a report on Monday, May 6th.

GlycoMimetics Stock Down 3.3 %

GLYC stock opened at $0.23 on Friday. The business has a 50 day moving average price of $0.28 and a two-hundred day moving average price of $1.69. The company has a market cap of $15.03 million, a price-to-earnings ratio of -0.40 and a beta of 2.19. GlycoMimetics has a twelve month low of $0.20 and a twelve month high of $3.53.

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

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, insider Edwin Rock bought 190,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were bought at an average cost of $0.25 per share, for a total transaction of $47,500.00. Following the purchase, the insider now directly owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Vanguard Group Inc. raised its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 14.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,761,981 shares of the biotechnology company’s stock after buying an additional 340,112 shares during the quarter. Vanguard Group Inc. owned about 4.29% of GlycoMimetics worth $8,286,000 at the end of the most recent reporting period. 75.19% of the stock is currently 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.