GlycoMimetics (GLYC) Hits New 1-Year Low at $10.60
Shares of GlycoMimetics Inc (NASDAQ:GLYC) hit a new 52-week low during trading on Thursday . The stock traded as low as $10.60 and last traded at $10.95, with a volume of 12326 shares. The stock had previously closed at $11.24.
Several analysts have recently commented on GLYC shares. Zacks Investment Research cut GlycoMimetics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Stifel Nicolaus restated a “buy” rating and set a $24.00 target price on shares of GlycoMimetics in a report on Sunday, August 12th. ValuEngine cut GlycoMimetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 27th. Finally, Roth Capital set a $35.00 price target on GlycoMimetics and gave the company a “buy” rating in a report on Monday, November 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $28.00.
The firm has a market cap of $484.86 million, a PE ratio of -9.67 and a beta of 3.04.
In related news, SVP John L. Magnani sold 14,200 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total value of $198,942.00. Following the transaction, the senior vice president now owns 86,593 shares in the company, valued at $1,213,167.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John L. Magnani sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $14.01, for a total value of $350,250.00. Following the completion of the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The disclosure for this sale can be found here. 43.80% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd bought a new position in GlycoMimetics during the third quarter worth about $186,000. Metropolitan Life Insurance Co. NY bought a new position in GlycoMimetics during the second quarter worth about $189,000. Voya Investment Management LLC bought a new position in GlycoMimetics during the second quarter worth about $205,000. Quantitative Systematic Strategies LLC bought a new position in GlycoMimetics during the second quarter worth about $264,000. Finally, MetLife Investment Advisors LLC bought a new position in GlycoMimetics during the second quarter worth about $268,000.
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GlycoMimetics Company Profile (NASDAQ:GLYC)
GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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