MJP Associates Inc. ADV Purchases Shares of 101,000 GlycoMimetics, Inc. (NASDAQ:GLYC)

MJP Associates Inc. ADV bought a new position in GlycoMimetics, Inc. (NASDAQ:GLYC) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 101,000 shares of the biotechnology company’s stock, valued at approximately $238,000.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of GlycoMimetics by 20.4% during the second quarter. Renaissance Technologies LLC now owns 566,400 shares of the biotechnology company’s stock worth $339,000 after purchasing an additional 95,800 shares during the period. Millennium Management LLC raised its position in GlycoMimetics by 7.5% during the second quarter. Millennium Management LLC now owns 434,655 shares of the biotechnology company’s stock valued at $260,000 after acquiring an additional 30,466 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of GlycoMimetics by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,879,412 shares of the biotechnology company’s stock worth $1,037,000 after acquiring an additional 32,650 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of GlycoMimetics during the 4th quarter valued at about $225,000. Finally, Geode Capital Management LLC grew its holdings in GlycoMimetics by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 405,335 shares of the biotechnology company’s stock valued at $1,228,000 after purchasing an additional 46,940 shares during the period. Institutional investors and hedge funds own 75.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GLYC shares. Capital One Financial reiterated an “overweight” rating on shares of GlycoMimetics in a research report on Thursday, February 22nd. StockNews.com cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of GlycoMimetics in a report on Wednesday.

GlycoMimetics Trading Down 5.7 %

GlycoMimetics stock traded down $0.18 during trading on Thursday, hitting $3.00. The company had a trading volume of 648,130 shares, compared to its average volume of 353,535. The company’s 50 day simple moving average is $3.00 and its 200-day simple moving average is $2.18. GlycoMimetics, Inc. has a 1-year low of $1.11 and a 1-year high of $3.53. The stock has a market cap of $193.35 million, a price-to-earnings ratio of -4.71 and a beta of 2.19.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.