GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report report published on Saturday. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on GlycoMimetics in a research report on Friday. They set an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.00.

GlycoMimetics Price Performance

Shares of NASDAQ:GLYC opened at $0.26 on Friday. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.18. The company’s 50 day moving average is $0.27 and its two-hundred day moving average is $0.26.

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

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caxton Corp purchased a new position in shares of GlycoMimetics during the fourth quarter worth about $51,000. ADAR1 Capital Management LLC increased its stake in GlycoMimetics by 626.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 286,127 shares during the period. Jefferies Financial Group Inc. acquired a new stake in GlycoMimetics in the fourth quarter valued at about $106,000. Wellington Management Group LLP purchased a new stake in GlycoMimetics in the 4th quarter valued at approximately $352,000. Finally, VR Adviser LLC purchased a new stake in GlycoMimetics in the 4th quarter valued at approximately $747,000. 75.19% of the stock is owned by hedge funds and other 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.