GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

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

GLYC has been the subject of a number of other research reports. HC Wainwright reiterated a “neutral” rating on shares of GlycoMimetics in a report on Tuesday, June 4th. Capital One Financial cut GlycoMimetics from an “overweight” rating to an “equal weight” rating in a report on Monday, May 6th.

GlycoMimetics Trading Down 2.8 %

Shares of GlycoMimetics stock opened at $0.26 on Friday. The company has a market capitalization of $16.95 million, a PE ratio of -0.45 and a beta of 2.15. GlycoMimetics has a 12 month low of $0.25 and a 12 month high of $3.53. The stock’s fifty day simple moving average is $0.98 and its 200 day simple moving average is $2.11.

GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Analysts predict that GlycoMimetics will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On GlycoMimetics

Several hedge funds have recently modified their holdings of GLYC. Acuta Capital Partners LLC bought a new position in shares of GlycoMimetics in the 3rd quarter valued at about $41,000. Advisor OS LLC bought a new position in shares of GlycoMimetics in the 4th quarter valued at about $238,000. MJP Associates Inc. ADV bought a new position in shares of GlycoMimetics in the 4th quarter valued at about $238,000. Finally, Vanguard Group Inc. grew its holdings in shares of GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after acquiring an additional 340,112 shares in the last quarter. 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.