GlycoMimetics, Inc. (NASDAQ:GLYC – Get Free Report) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 1,820,000 shares, a drop of 5.7% from the August 31st total of 1,930,000 shares. Based on an average trading volume of 3,640,000 shares, the days-to-cover ratio is presently 0.5 days.
GlycoMimetics Stock Performance
Shares of GlycoMimetics stock opened at $0.17 on Wednesday. The stock has a market capitalization of $10.69 million, a P/E ratio of -0.29 and a beta of 2.07. GlycoMimetics has a 52-week low of $0.16 and a 52-week high of $3.53. The stock’s 50-day simple moving average is $0.18 and its 200 day simple moving average is $0.79.
Insider Activity at GlycoMimetics
In related news, major shareholder Public Equities L.P. Invus sold 258,335 shares of GlycoMimetics stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $0.24, for a total transaction of $62,000.40. Following the transaction, the insider now owns 8,330,729 shares of the company’s stock, valued at $1,999,374.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 911,859 shares of company stock valued at $205,659. 8.70% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On GlycoMimetics
Wall Street Analysts Forecast Growth
Several research firms have commented on GLYC. TD Cowen lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. StockNews.com started coverage on GlycoMimetics in a research report on Friday, September 27th. They set a “sell” rating for the company. Finally, HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a report on Tuesday, June 4th.
View Our Latest Research Report on GlycoMimetics
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.
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