GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Trading Down 13.6 %

Shares of GLYC opened at $0.31 on Tuesday. The firm has a 50-day simple moving average of $0.26 and a two-hundred day simple moving average of $0.24. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.36.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. As a group, research analysts expect that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Trading of GlycoMimetics

Institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. acquired a new stake in shares of GlycoMimetics during the 4th quarter worth about $1,268,000. VR Adviser LLC purchased a new position in GlycoMimetics in the fourth quarter valued at approximately $747,000. Wellington Management Group LLP purchased a new position in GlycoMimetics in the fourth quarter valued at approximately $352,000. Jefferies Financial Group Inc. acquired a new stake in GlycoMimetics during the fourth quarter worth approximately $106,000. Finally, ADAR1 Capital Management LLC lifted its position in shares of GlycoMimetics by 626.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after buying an additional 286,127 shares during the last quarter. 75.19% of the stock is owned by hedge funds and other institutional investors.

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.