GlycoMimetics (NASDAQ:GLYC) Downgraded to “Equal Weight” at Capital One Financial

Capital One Financial downgraded shares of GlycoMimetics (NASDAQ:GLYC) from an overweight rating to an equal weight rating in a report issued on Monday, Zacks.com reports.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of GlycoMimetics from a hold rating to a sell rating in a report on Thursday, March 14th. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a research report on Monday.

GlycoMimetics Trading Down 2.3 %

Shares of GLYC opened at $0.30 on Monday. The stock has a market capitalization of $19.23 million, a price-to-earnings ratio of -0.51 and a beta of 2.30. GlycoMimetics has a 12 month low of $0.27 and a 12 month high of $3.53. The firm has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $2.32.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $0.01 million for the quarter. As a group, research analysts predict that GlycoMimetics will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GlycoMimetics

Institutional investors have recently modified their holdings of the stock. MJP Associates Inc. ADV bought a new stake in GlycoMimetics during the fourth quarter valued at about $238,000. Acuta Capital Partners LLC bought a new stake in shares of GlycoMimetics in the third quarter worth about $41,000. Finally, Advisor OS LLC purchased a new stake in shares of GlycoMimetics during the 4th quarter worth approximately $238,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

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.