GlycoMimetics (NASDAQ:GLYC) Stock Crosses Above 50-Day Moving Average of $1.35

GlycoMimetics, Inc. (NASDAQ:GLYC)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.35 and traded as high as $1.57. GlycoMimetics shares last traded at $1.53, with a volume of 86,928 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on GLYC. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of GlycoMimetics in a research note on Thursday, August 3rd. StockNews.com lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Monday, November 6th.

GlycoMimetics Stock Performance

The company’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.59. The company has a market cap of $98.52 million, a PE ratio of -2.43 and a beta of 2.07.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Friday, November 3rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). During the same quarter in the prior year, the firm posted ($0.16) EPS. Equities research analysts expect that GlycoMimetics, Inc. will post -0.61 EPS for the current year.

Insider Buying and Selling

In related news, insider Edwin Rock acquired 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average price of $1.38 per share, with a total value of $48,300.00. Following the acquisition, the insider now owns 345,000 shares of the company’s stock, valued at approximately $476,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.00% of the stock is currently owned by insiders.

Institutional Trading of GlycoMimetics

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in shares of GlycoMimetics in the 1st quarter valued at about $30,000. Acuta Capital Partners LLC purchased a new stake in shares of GlycoMimetics in the 3rd quarter valued at about $41,000. XTX Topco Ltd purchased a new stake in shares of GlycoMimetics in the 2nd quarter valued at about $52,000. Letko Brosseau & Associates Inc. purchased a new stake in shares of GlycoMimetics in the 1st quarter valued at about $57,000. Finally, Beirne Wealth Consulting Services LLC increased its position in shares of GlycoMimetics by 25.0% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 50,000 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 55.36% of the company’s stock.

About GlycoMimetics

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.