Wellington Management Group LLP Makes New Investment in GlycoMimetics, Inc. (NASDAQ:GLYC)

Wellington Management Group LLP bought a new stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,413,402 shares of the biotechnology company’s stock, valued at approximately $352,000. Wellington Management Group LLP owned approximately 2.19% of GlycoMimetics at the end of the most recent quarter.

GlycoMimetics Stock Performance

GlycoMimetics stock opened at $0.22 on Tuesday. GlycoMimetics, Inc. has a 52-week low of $0.14 and a 52-week high of $2.47. The business has a 50-day simple moving average of $0.25 and a two-hundred day simple moving average of $0.26.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on GLYC. StockNews.com assumed coverage on shares of GlycoMimetics in a research report on Tuesday. They issued a “sell” rating on the stock. Cantor Fitzgerald initiated coverage on GlycoMimetics in a report on Friday, March 21st. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

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.