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

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued to investors on Sunday morning. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald began coverage on GlycoMimetics in a research note on Friday, March 21st. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

GlycoMimetics Trading Down 4.2 %

Shares of GLYC opened at $0.20 on Friday. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.16. The company has a 50-day simple moving average of $0.27 and a 200-day simple moving average of $0.26.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. As a group, research analysts anticipate that GlycoMimetics will post -0.08 EPS for the current year.

Hedge Funds Weigh In On GlycoMimetics

Hedge funds have recently added to or reduced their stakes in the business. Caxton Corp purchased a new stake in shares of GlycoMimetics in the fourth quarter valued at about $51,000. ADAR1 Capital Management LLC raised its position in shares of GlycoMimetics by 626.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of GlycoMimetics during the 4th quarter worth approximately $106,000. Wellington Management Group LLP purchased a new stake in GlycoMimetics in the 4th quarter valued at approximately $352,000. Finally, VR Adviser LLC acquired a new stake in GlycoMimetics during the 4th quarter valued at $747,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

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.