GlycoMimetics, Inc. (GLYC) Trading Up -1%
GlycoMimetics, Inc. (NASDAQ:GLYC)’s share price was up 1% during trading on Tuesday . The company traded as high as $12.40 and last traded at $11.59. Approximately 389,700 shares changed hands during trading, a decline of 59% from the average daily volume of 955,421 shares. The stock had previously closed at $11.71.
A number of equities analysts have recently commented on GLYC shares. ValuEngine raised GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 price objective (up previously from $13.00) on shares of GlycoMimetics in a research note on Friday, August 4th. BidaskClub cut GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Finally, Roth Capital assumed coverage on GlycoMimetics in a research note on Monday, October 23rd. They issued a “buy” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. GlycoMimetics currently has a consensus rating of “Buy” and a consensus price target of $17.33.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. equities research analysts predict that GlycoMimetics, Inc. will post -1.15 earnings per share for the current year.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $13.00, for a total value of $26,000.00. Following the sale, the senior vice president now directly owns 150,615 shares of the company’s stock, valued at approximately $1,957,995. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 43.80% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in GLYC. Jennison Associates LLC purchased a new stake in shares of GlycoMimetics during the 2nd quarter valued at about $17,786,000. FMR LLC acquired a new stake in GlycoMimetics during the 2nd quarter valued at approximately $16,780,000. Franklin Resources Inc. grew its stake in GlycoMimetics by 85.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,859,079 shares of the biotechnology company’s stock valued at $20,747,000 after purchasing an additional 859,100 shares in the last quarter. Redmile Group LLC acquired a new stake in GlycoMimetics during the 2nd quarter valued at approximately $6,692,000. Finally, Janus Henderson Group PLC acquired a new stake in GlycoMimetics during the 2nd quarter valued at approximately $5,598,000. Institutional investors and hedge funds own 92.47% 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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