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

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Saturday morning. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald started coverage on shares of GlycoMimetics in a research report on Friday. They set an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, GlycoMimetics presently has a consensus rating of “Hold” and a consensus target price of $8.00.

GlycoMimetics Price Performance

GLYC stock opened at $0.27 on Friday. The company’s 50-day moving average is $0.27 and its 200-day moving average is $0.26. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. As a group, equities analysts predict that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On GlycoMimetics

Several large investors have recently added to or reduced their stakes in the business. Caxton Corp bought a new position in GlycoMimetics in the 4th quarter valued at about $51,000. ADAR1 Capital Management LLC lifted 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 buying an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of GlycoMimetics during the 4th quarter worth approximately $106,000. Wellington Management Group LLP bought a new position in shares of GlycoMimetics during the 4th quarter worth approximately $352,000. Finally, VR Adviser LLC bought a new position in shares of GlycoMimetics during the 4th quarter worth approximately $747,000. Institutional investors own 75.19% of the company’s stock.

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.