GlycoMimetics, Inc. (GLYC) Trading Down 5.7%
GlycoMimetics, Inc. (NASDAQ:GLYC) fell 5.7% during mid-day trading on Monday . The stock traded as low as $12.20 and last traded at $12.28. 581,458 shares were traded during trading, an increase of 48% from the average session volume of 392,803 shares. The stock had previously closed at $13.02.
Several research firms have issued reports on GLYC. Zacks Investment Research downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. SunTrust Banks, Inc. set a $21.00 price objective on shares of GlycoMimetics and gave the stock a “buy” rating in a research note on Monday, August 7th. BidaskClub upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 price objective (up from $13.00) on shares of GlycoMimetics in a research note on Friday, August 4th. Finally, ValuEngine upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $14.80.
The stock’s market capitalization is $411.00 million. The firm’s 50-day moving average is $12.53 and its 200 day moving average is $9.99.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07. Analysts anticipate that GlycoMimetics, Inc. will post ($1.22) EPS for the current fiscal year.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the transaction, the senior vice president now owns 150,615 shares in the company, valued at $1,957,995. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 43.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Prentiss Smith & Co. Inc. grew its holdings in GlycoMimetics by 42.9% during the second quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 3,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in GlycoMimetics during the second quarter valued at approximately $146,000. Citadel Advisors LLC acquired a new position in GlycoMimetics during the second quarter valued at approximately $249,000. Russell Investments Group Ltd. grew its holdings in GlycoMimetics by 172.4% during the second quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock valued at $350,000 after purchasing an additional 19,859 shares during the last quarter. Finally, TD Asset Management Inc. acquired a new position in GlycoMimetics during the second quarter valued at approximately $362,000. Institutional investors own 92.63% of the company’s stock.
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GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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