GlycoMimetics, Inc. (GLYC) Holdings Lifted by Columbus Circle Investors
Columbus Circle Investors grew its position in GlycoMimetics, Inc. (NASDAQ:GLYC) by 48.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 201,980 shares of the biotechnology company’s stock after purchasing an additional 66,177 shares during the period. Columbus Circle Investors owned approximately 0.62% of GlycoMimetics worth $2,826,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fox Run Management L.L.C. bought a new position in GlycoMimetics in the 3rd quarter worth about $173,000. Dynamic Technology Lab Private Ltd bought a new position in GlycoMimetics in the 2nd quarter worth about $146,000. Russell Investments Group Ltd. grew its position in GlycoMimetics by 172.4% in the 2nd 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. Citadel Advisors LLC bought a new position in GlycoMimetics in the 2nd quarter worth about $249,000. Finally, TD Asset Management Inc. bought a new position in GlycoMimetics in the 2nd quarter worth about $362,000. Hedge funds and other institutional investors own 88.32% of the company’s stock.
GLYC has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $16.00 target price on shares of GlycoMimetics in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, October 6th. ValuEngine raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Roth Capital initiated coverage on shares of GlycoMimetics in a research note on Monday, October 23rd. They issued a “buy” rating and a $25.00 price target for the company. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $21.00 price target on shares of GlycoMimetics in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. GlycoMimetics presently has a consensus rating of “Buy” and a consensus price target of $17.33.
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Shares of GlycoMimetics, Inc. (NASDAQ:GLYC) opened at $12.50 on Wednesday. GlycoMimetics, Inc. has a one year low of $3.82 and a one year high of $16.94.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. research analysts predict that GlycoMimetics, Inc. will post -1.12 earnings per share for the current fiscal year.
In other news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.00, for a total value of $26,000.00. Following the completion of the sale, the senior vice president now directly owns 150,615 shares of the company’s stock, valued at approximately $1,957,995. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 43.80% of the company’s stock.
GlycoMimetics Company Profile
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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