GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

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

GlycoMimetics Stock Up 10.0 %

GlycoMimetics stock opened at $0.22 on Tuesday. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $2.47. The stock’s fifty day simple moving average is $0.25 and its 200-day simple moving average is $0.26.

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

Hedge Funds Weigh In On GlycoMimetics

Large investors have recently added to or reduced their stakes in the business. Caxton Corp acquired a new position in shares of GlycoMimetics in the 4th quarter valued at $51,000. ADAR1 Capital Management LLC grew its position in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 286,127 shares during the period. Jefferies Financial Group Inc. acquired a new stake in GlycoMimetics during the fourth quarter worth about $106,000. Wellington Management Group LLP purchased a new position in shares of GlycoMimetics in the 4th quarter worth about $352,000. Finally, VR Adviser LLC acquired a new position in shares of GlycoMimetics in the 4th quarter valued at about $747,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.