GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

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

Separately, Cantor Fitzgerald started coverage on GlycoMimetics in a report on Friday, March 21st. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, GlycoMimetics currently has an average rating of “Hold”.

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.20 on Friday. The company’s 50 day simple moving average is $0.27 and its 200-day simple moving average is $0.26. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.16.

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

Hedge Funds Weigh In On GlycoMimetics

Several institutional investors have recently bought and sold shares of GLYC. Wellington Management Group LLP acquired a new stake in shares of GlycoMimetics in the 4th quarter worth $352,000. Jefferies Financial Group Inc. purchased a new position in GlycoMimetics during the fourth quarter worth about $106,000. VR Adviser LLC acquired a new stake in GlycoMimetics in the fourth quarter valued at about $747,000. Caxton Corp purchased a new stake in GlycoMimetics in the 4th quarter valued at approximately $51,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in GlycoMimetics in the 4th quarter valued at approximately $1,268,000. 75.19% of the stock is owned by institutional investors and hedge funds.

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.