GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

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

Separately, Cantor Fitzgerald began coverage on GlycoMimetics in a report on Friday, March 21st. They set an “overweight” rating for the company.

GlycoMimetics Stock Performance

Shares of NASDAQ GLYC opened at $0.26 on Friday. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $0.63. The stock has a fifty day moving average price of $0.24 and a two-hundred day moving average price of $0.27. The firm has a market cap of $16.77 million, a P/E ratio of -0.56 and a beta of 1.70.

GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. On average, research analysts predict that GlycoMimetics will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caxton Corp bought a new position in GlycoMimetics during the fourth quarter worth about $51,000. ADAR1 Capital Management LLC increased its holdings in shares of GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of GlycoMimetics in the fourth quarter valued at approximately $106,000. Wellington Management Group LLP acquired a new stake in shares of GlycoMimetics in the fourth quarter valued at approximately $352,000. Finally, VR Adviser LLC acquired a new stake in GlycoMimetics during the 4th quarter worth $747,000. Institutional investors own 75.19% of the company’s stock.

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.