GlycoMimetics Inc (GLYC) Shares Bought by Citadel Advisors LLC
Citadel Advisors LLC lifted its holdings in shares of GlycoMimetics Inc (NASDAQ:GLYC) by 25.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,453,077 shares of the biotechnology company’s stock after purchasing an additional 294,224 shares during the period. Citadel Advisors LLC’s holdings in GlycoMimetics were worth $23,438,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System bought a new position in shares of GlycoMimetics during the 1st quarter valued at $166,000. DekaBank Deutsche Girozentrale bought a new position in shares of GlycoMimetics during the 1st quarter valued at $220,000. Quantitative Systematic Strategies LLC bought a new position in shares of GlycoMimetics during the 2nd quarter valued at $264,000. State of Wisconsin Investment Board bought a new position in shares of GlycoMimetics during the 2nd quarter valued at $510,000. Finally, Rhumbline Advisers bought a new position in shares of GlycoMimetics during the 2nd quarter valued at $516,000.
GLYC has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a report on Monday, August 13th. Stifel Nicolaus reissued a “buy” rating and set a $24.00 price target on shares of GlycoMimetics in a research report on Sunday, August 12th. BidaskClub raised shares of GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. ValuEngine cut shares of GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Zacks Investment Research raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.00.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Friday, August 10th. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.08. sell-side analysts forecast that GlycoMimetics Inc will post -1.24 earnings per share for the current fiscal year.
In other GlycoMimetics news, CFO Brian M. Hahn sold 19,345 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $18.04, for a total transaction of $348,983.80. Following the completion of the sale, the chief financial officer now owns 19,345 shares of the company’s stock, valued at approximately $348,983.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 43.80% of the company’s stock.
GlycoMimetics Company Profile
GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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