StockNews.com Initiates Coverage on GlycoMimetics (NASDAQ:GLYC)

Analysts at StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued on Saturday. The firm set a “sell” rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald started coverage on GlycoMimetics in a research note on Friday. They set an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GlycoMimetics presently has a consensus rating of “Hold” and an average target price of $8.00.

GlycoMimetics Stock Down 0.5 %

Shares of NASDAQ GLYC opened at $0.27 on Friday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.18. The firm’s 50-day simple moving average is $0.27 and its 200 day simple moving average is $0.26.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. Sell-side analysts forecast that GlycoMimetics will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GlycoMimetics

Hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new position in shares of GlycoMimetics in the fourth quarter valued at approximately $106,000. VR Adviser LLC bought a new position in GlycoMimetics in the 4th quarter valued at $747,000. Caxton Corp bought a new position in GlycoMimetics in the 4th quarter valued at $51,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of GlycoMimetics during the 4th quarter valued at $1,268,000. Finally, Wellington Management Group LLP bought a new stake in shares of GlycoMimetics during the 4th quarter worth $352,000. Institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

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.