GlycoMimetics Inc (NASDAQ:GLYC)’s share price was down 6.1% during trading on Thursday . The stock traded as low as $16.26 and last traded at $16.43. Approximately 787,004 shares traded hands during trading, an increase of 15% from the average daily volume of 684,152 shares. The stock had previously closed at $17.49.
Several equities analysts recently commented on GLYC shares. ValuEngine raised shares of GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Stifel Nicolaus upped their price target on shares of GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. BidaskClub raised shares of GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Finally, Zacks Investment Research lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $25.20.
The stock has a market capitalization of $765.80 million, a P/E ratio of -14.54 and a beta of 3.42.
In other news, Director M James Barrett sold 9,539 shares of the stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $17.81, for a total value of $169,889.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian M. Hahn sold 19,345 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $18.04, for a total transaction of $348,983.80. Following the completion of the sale, the chief financial officer now directly owns 19,345 shares of the company’s stock, valued at approximately $348,983.80. The disclosure for this sale can be found here. Corporate insiders own 26.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of GlycoMimetics in the fourth quarter worth $103,000. California Public Employees Retirement System acquired a new stake in shares of GlycoMimetics in the first quarter worth $166,000. Paloma Partners Management Co acquired a new stake in shares of GlycoMimetics in the fourth quarter worth $170,000. First Mercantile Trust Co. increased its position in shares of GlycoMimetics by 26.6% in the fourth quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 2,466 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of GlycoMimetics in the fourth quarter worth $210,000.
GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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