Zacks Investment Research downgraded shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a sell rating in a research note released on Thursday morning.

According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “

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Other research analysts have also recently issued reports about the stock. Jefferies Group reissued a buy rating and issued a $21.00 price target on shares of GlycoMimetics in a report on Wednesday, December 20th. Stifel Nicolaus reissued a buy rating and issued a $23.00 price target on shares of GlycoMimetics in a report on Thursday, December 14th. SunTrust Banks increased their price target on shares of GlycoMimetics to $32.00 and gave the company a buy rating in a report on Tuesday, December 12th. Cowen reissued a buy rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Finally, BidaskClub cut shares of GlycoMimetics from a buy rating to a hold rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $23.00.

GlycoMimetics (NASDAQ:GLYC) opened at $17.83 on Thursday. The firm has a market cap of $612.25, a PE ratio of -15.50 and a beta of 3.23. GlycoMimetics has a fifty-two week low of $3.82 and a fifty-two week high of $26.05.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.01). equities analysts anticipate that GlycoMimetics will post -1.01 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. USA Financial Portformulas Corp bought a new position in shares of GlycoMimetics during the fourth quarter worth approximately $573,000. Citadel Advisors LLC increased its holdings in shares of GlycoMimetics by 607.1% during the fourth quarter. Citadel Advisors LLC now owns 413,119 shares of the biotechnology company’s stock worth $6,937,000 after purchasing an additional 354,697 shares during the period. Vanguard Group Inc. increased its holdings in shares of GlycoMimetics by 94.3% during the second quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock worth $9,421,000 after purchasing an additional 409,689 shares during the period. Columbus Circle Investors increased its holdings in shares of GlycoMimetics by 48.7% during the third quarter. Columbus Circle Investors now owns 201,980 shares of the biotechnology company’s stock worth $2,826,000 after purchasing an additional 66,177 shares during the period. Finally, Alps Advisors Inc. bought a new position in shares of GlycoMimetics during the fourth quarter worth approximately $639,000. 92.90% of the stock is currently owned by institutional investors.

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GlycoMimetics Company Profile

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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