GlycoMimetics Inc (NASDAQ:GLYC)’s share price shot up 6.5% on Tuesday . The company traded as high as $6.23 and last traded at $6.09, 223,500 shares traded hands during trading. A decline of 49% from the average session volume of 437,634 shares. The stock had previously closed at $5.72.
A number of research firms have recently weighed in on GLYC. BidaskClub raised shares of GlycoMimetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Piper Jaffray Companies reissued a “neutral” rating and set a $5.00 target price (down from $6.00) on shares of GlycoMimetics in a research report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of GlycoMimetics in a research report on Friday, November 8th. SunTrust Banks downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating and reduced their target price for the company from $23.00 to $5.00 in a research report on Monday, August 5th. Finally, Roth Capital began coverage on shares of GlycoMimetics in a research report on Thursday, November 14th. They set a “buy” rating and a $12.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $9.00.
The stock’s 50-day moving average price is $5.18 and its two-hundred day moving average price is $7.77. The stock has a market capitalization of $269.70 million, a P/E ratio of -5.16 and a beta of 2.74. The company has a current ratio of 16.75, a quick ratio of 16.75 and a debt-to-equity ratio of 0.02.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.08. On average, equities research analysts predict that GlycoMimetics Inc will post -1.36 earnings per share for the current year.
In other GlycoMimetics news, major shareholder Bvf Partners L. P/Il acquired 1,668,746 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average cost of $3.18 per share, with a total value of $5,306,612.28. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 26.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prentiss Smith & Co. Inc. bought a new position in GlycoMimetics in the 3rd quarter worth approximately $73,000. Tower Research Capital LLC TRC boosted its holdings in GlycoMimetics by 7,635.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,001 shares of the biotechnology company’s stock worth $61,000 after buying an additional 13,820 shares during the period. California Public Employees Retirement System bought a new position in GlycoMimetics in the 3rd quarter worth approximately $45,000. Invesco Ltd. bought a new position in GlycoMimetics in the 2nd quarter worth approximately $56,816,000. Finally, AXA boosted its holdings in GlycoMimetics by 0.6% in the 2nd quarter. AXA now owns 930,551 shares of the biotechnology company’s stock worth $11,092,000 after buying an additional 5,407 shares during the period. 99.38% of the stock is owned by institutional investors.
GlycoMimetics Company Profile (NASDAQ:GLYC)
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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.
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