GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report released on Monday. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on shares of GlycoMimetics in a research report on Friday, March 21st. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

GlycoMimetics Stock Performance

Shares of NASDAQ:GLYC opened at $0.18 on Monday. The business has a 50 day moving average price of $0.26 and a 200 day moving average price of $0.26. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $2.81.

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

Hedge Funds Weigh In On GlycoMimetics

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of GlycoMimetics during the fourth quarter valued at approximately $352,000. ADAR1 Capital Management LLC lifted its position in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in GlycoMimetics during the fourth quarter worth $1,268,000. Caxton Corp bought a new stake in GlycoMimetics in the 4th quarter valued at $51,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of GlycoMimetics in the 4th quarter valued at $106,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

About GlycoMimetics

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.