GlycoMimetics (NASDAQ:GLYC) Rating Lowered to Equal Weight at Capital One Financial

GlycoMimetics (NASDAQ:GLYC) was downgraded by investment analysts at Capital One Financial from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, Zacks.com reports.

A number of other research firms also recently issued reports on GLYC. StockNews.com downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. HC Wainwright reaffirmed a “neutral” rating on shares of GlycoMimetics in a research note on Monday.

GlycoMimetics Stock Down 3.2 %

Shares of NASDAQ GLYC opened at $0.31 on Monday. The company has a 50 day moving average of $2.42 and a 200 day moving average of $2.33. GlycoMimetics has a twelve month low of $0.27 and a twelve month high of $3.53. The firm has a market cap of $19.68 million, a P/E ratio of -0.53 and a beta of 2.30.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $0.01 million for the quarter. As a group, equities analysts expect that GlycoMimetics will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of GlycoMimetics

Large investors have recently made changes to their positions in the business. Acuta Capital Partners LLC purchased a new stake in GlycoMimetics during the third quarter worth $41,000. Advisor OS LLC purchased a new stake in shares of GlycoMimetics during the 4th quarter worth about $238,000. Finally, MJP Associates Inc. ADV purchased a new stake in shares of GlycoMimetics during the 4th quarter worth about $238,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

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.