Shares of GlycoMimetics Inc (NASDAQ:GLYC) were up 6% on Thursday . The company traded as high as $18.06 and last traded at $17.79. Approximately 787,653 shares traded hands during trading, a decline of 9% from the average daily volume of 869,222 shares. The stock had previously closed at $16.79.
A number of analysts have recently weighed in on GLYC shares. Zacks Investment Research downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Jefferies Group reissued a “buy” rating and set a $21.00 price target on shares of GlycoMimetics in a report on Wednesday, December 20th. Roth Capital set a $35.00 price target on GlycoMimetics and gave the stock a “buy” rating in a report on Thursday, February 8th. BidaskClub raised GlycoMimetics from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Finally, Stifel Nicolaus boosted their price target on GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. GlycoMimetics presently has a consensus rating of “Buy” and a consensus target price of $23.00.
The firm has a market capitalization of $735.79, a P/E ratio of -15.56 and a beta of 3.43.
Several institutional investors have recently bought and sold shares of the company. Redmile Group LLC raised its holdings in shares of GlycoMimetics by 59.0% during the 4th quarter. Redmile Group LLC now owns 1,930,668 shares of the biotechnology company’s stock worth $32,416,000 after buying an additional 716,580 shares in the last quarter. Nexthera Capital LP increased its holdings in GlycoMimetics by 49.5% in the 4th quarter. Nexthera Capital LP now owns 480,442 shares of the biotechnology company’s stock worth $8,067,000 after purchasing an additional 159,156 shares in the last quarter. Paloma Partners Management Co acquired a new position in GlycoMimetics in the 4th quarter worth about $170,000. Two Sigma Investments LP acquired a new position in GlycoMimetics in the 4th quarter worth about $384,000. Finally, Goldman Sachs Group Inc. acquired a new position in GlycoMimetics in the 4th quarter worth about $1,900,000. 77.02% of the stock is owned by institutional investors.
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GlycoMimetics Company Profile
GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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