StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

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

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

GlycoMimetics Price Performance

GLYC opened at $0.22 on Tuesday. The company’s 50 day simple moving average is $0.25 and its two-hundred day simple moving average is $0.26. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $2.47.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. Equities research analysts anticipate that GlycoMimetics will post -0.08 EPS for the current year.

Institutional Investors Weigh In On GlycoMimetics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new stake in GlycoMimetics in the 4th quarter valued at approximately $352,000. Jefferies Financial Group Inc. acquired a new stake in shares of GlycoMimetics in the fourth quarter valued at $106,000. VR Adviser LLC acquired a new stake in shares of GlycoMimetics in the fourth quarter valued at $747,000. Caxton Corp purchased a new stake in shares of GlycoMimetics in the 4th quarter valued at $51,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in GlycoMimetics during the 4th quarter worth about $1,268,000. 75.19% of the stock is 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.