GlycoMimetics, Inc. (GLYC) Trading Down 0.1%

Shares of GlycoMimetics, Inc. (NASDAQ:GLYC) were down 0.1% during mid-day trading on Monday . The stock traded as low as $11.10 and last traded at $11.27. Approximately 275,476 shares were traded during trading, a decline of 37% from the average daily volume of 438,694 shares. The stock had previously closed at $11.26.

Several analysts recently issued reports on GLYC shares. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, July 18th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $21.00 price target on shares of GlycoMimetics in a research report on Wednesday, October 4th. ValuEngine upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 price target (up previously from $13.00) on shares of GlycoMimetics in a research report on Friday, August 4th. Finally, BidaskClub lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $14.80.

The stock’s market cap is $375.99 million. The stock has a 50 day moving average of $12.71 and a 200-day moving average of $10.14.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.07. Equities research analysts forecast that GlycoMimetics, Inc. will post ($1.22) earnings per share for the current fiscal year.

In related news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the senior vice president now owns 150,615 shares of the company’s stock, valued at approximately $1,957,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 43.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Prentiss Smith & Co. Inc. grew its stake in GlycoMimetics by 42.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $112,000 after buying an additional 3,000 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $146,000. Citadel Advisors LLC purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $249,000. Russell Investments Group Ltd. grew its stake in GlycoMimetics by 172.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after buying an additional 19,859 shares in the last quarter. Finally, TD Asset Management Inc. purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $362,000. 92.63% of the stock is owned by institutional investors and hedge funds.

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About GlycoMimetics

GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.

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