GlycoMimetics (NASDAQ:GLYC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “
A number of other research analysts have also commented on GLYC. Jefferies Group reissued a “buy” rating and set a $21.00 price target on shares of GlycoMimetics in a report on Wednesday, December 20th. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Stifel Nicolaus reissued a “buy” rating and set a $23.00 price target on shares of GlycoMimetics in a report on Thursday, December 14th. SunTrust Banks reissued a “buy” rating and set a $21.00 price target on shares of GlycoMimetics in a report on Wednesday, October 4th. Finally, Cowen reissued a “buy” rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.00.
Shares of GlycoMimetics (NASDAQ GLYC) traded down $0.16 during midday trading on Wednesday, reaching $17.68. The company’s stock had a trading volume of 382,900 shares, compared to its average volume of 587,667. GlycoMimetics has a 1 year low of $3.82 and a 1 year high of $18.25. The firm has a market capitalization of $612.59, a price-to-earnings ratio of -14.26 and a beta of 3.21.
GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. research analysts anticipate that GlycoMimetics will post -1.12 EPS for the current year.
In other news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the transaction, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at $2,230,711.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 43.80% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in GlycoMimetics during the second quarter worth about $146,000. Fox Run Management L.L.C. acquired a new position in GlycoMimetics during the third quarter worth about $173,000. Citadel Advisors LLC acquired a new position in GlycoMimetics during the second quarter worth about $249,000. Russell Investments Group Ltd. grew its holdings in GlycoMimetics by 172.4% during the second quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after acquiring an additional 19,859 shares during the period. Finally, Virtu KCG Holdings LLC acquired a new position in GlycoMimetics during the second quarter worth about $569,000. 86.66% of the stock is currently owned by hedge funds and other institutional investors.
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GlycoMimetics Company Profile
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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