GlycoMimetics (GLYC) Trading 6.1% Higher
GlycoMimetics Inc (NASDAQ:GLYC)’s share price traded up 6.1% during mid-day trading on Friday . The company traded as high as $17.32 and last traded at $17.13. 899,124 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 944,173 shares. The stock had previously closed at $16.14.
GLYC has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $23.00 target price on shares of GlycoMimetics in a research report on Thursday, December 14th. Jefferies Group reiterated a “buy” rating and set a $21.00 target price on shares of GlycoMimetics in a research report on Wednesday. SunTrust Banks lifted their target price on GlycoMimetics to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Cowen reiterated a “buy” rating on shares of GlycoMimetics in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. GlycoMimetics currently has a consensus rating of “Buy” and a consensus price target of $21.00.
The company has a market cap of $624.29, a PE ratio of -13.81 and a beta of 3.21.
GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. sell-side analysts expect that GlycoMimetics Inc will post -1.12 earnings per share for the current year.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the sale, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at $2,230,711.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 43.80% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of GlycoMimetics in the second quarter worth about $146,000. Fox Run Management L.L.C. bought a new stake in shares of GlycoMimetics in the third quarter worth about $173,000. Citadel Advisors LLC bought a new stake in shares of GlycoMimetics in the second quarter worth about $249,000. Russell Investments Group Ltd. increased its holdings in shares of GlycoMimetics by 172.4% in the second quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after purchasing an additional 19,859 shares during the last quarter. Finally, TD Asset Management Inc. bought a new stake in shares of GlycoMimetics in the second quarter worth about $362,000. 86.66% of the stock is currently owned by institutional investors and hedge funds.
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GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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