GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYCGet Rating) in a research note released on Friday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

NASDAQ:GLYC opened at $1.00 on Friday. The business’s 50-day moving average price is $1.12 and its two-hundred day moving average price is $1.48. GlycoMimetics has a twelve month low of $0.99 and a twelve month high of $2.83. The stock has a market cap of $52.31 million, a P/E ratio of -0.81 and a beta of 1.82.

GlycoMimetics (NASDAQ:GLYCGet Rating) last announced its quarterly earnings data on Thursday, March 3rd. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $0.02 million during the quarter. During the same quarter last year, the firm posted ($0.32) EPS. As a group, equities analysts expect that GlycoMimetics will post -1.32 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of GlycoMimetics by 46.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,533 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 12,158 shares during the last quarter. Millennium Management LLC grew its position in GlycoMimetics by 54.4% during the 4th quarter. Millennium Management LLC now owns 691,713 shares of the biotechnology company’s stock worth $996,000 after acquiring an additional 243,703 shares during the last quarter. Eversept Partners LP bought a new position in GlycoMimetics during the 4th quarter worth approximately $144,000. GSA Capital Partners LLP bought a new position in GlycoMimetics during the 4th quarter worth approximately $210,000. Finally, Acadian Asset Management LLC grew its position in GlycoMimetics by 3.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,951,086 shares of the biotechnology company’s stock worth $2,808,000 after acquiring an additional 64,999 shares during the last quarter. Hedge funds and other institutional investors own 57.33% of the company’s stock.

About GlycoMimetics (Get Rating)

GlycoMimetics, Inc engages in the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role. It develops proprietary glycomimetics that inhibit disease related functions of carbohydrates. The company was founded by Rachel K.

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