GlycoMimetics (NASDAQ:GLYC) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

GlycoMimetics, Inc. (NASDAQ:GLYC) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.27 and traded as low as $0.25. GlycoMimetics shares last traded at $0.25, with a volume of 173,587 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on GLYC. Cantor Fitzgerald began coverage on GlycoMimetics in a research report on Friday, March 21st. They issued an “overweight” rating for the company. StockNews.com began coverage on GlycoMimetics in a research report on Saturday. They issued a “sell” rating for the company.

GlycoMimetics Price Performance

The company has a 50-day simple moving average of $0.24 and a 200-day simple moving average of $0.27. The firm has a market cap of $15.93 million, a PE ratio of -0.42 and a beta of 1.70.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. As a group, equities research analysts predict that GlycoMimetics, Inc. will post -0.08 earnings per share for the current year.

Institutional Trading of GlycoMimetics

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in GlycoMimetics in the fourth quarter worth approximately $352,000. ADAR1 Capital Management LLC raised its stake in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after buying an additional 286,127 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in GlycoMimetics in the fourth quarter worth approximately $1,268,000. Caxton Corp bought a new position in GlycoMimetics in the fourth quarter worth approximately $51,000. Finally, Jefferies Financial Group Inc. bought a new position in GlycoMimetics in the fourth quarter worth approximately $106,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.