Shares of GlycoMimetics Inc (NASDAQ:GLYC) have been given a consensus rating of “Hold” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.45.
GLYC has been the subject of several recent analyst reports. HC Wainwright decreased their target price on GlycoMimetics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Zacks Investment Research upgraded GlycoMimetics from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. BidaskClub downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Finally, SunTrust Banks downgraded GlycoMimetics from a “buy” rating to a “hold” rating and cut their target price for the stock from $23.00 to $5.00 in a research report on Monday, August 5th.
Shares of NASDAQ GLYC traded down $0.21 during mid-day trading on Thursday, reaching $4.26. 298,913 shares of the company traded hands, compared to its average volume of 487,348. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.54 and a current ratio of 17.54. The stock has a market cap of $190.04 million, a PE ratio of -3.61 and a beta of 2.72. The company’s fifty day moving average is $3.73 and its two-hundred day moving average is $9.78. GlycoMimetics has a fifty-two week low of $2.64 and a fifty-two week high of $14.72.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.01). Research analysts forecast that GlycoMimetics will post -1.51 earnings per share for the current year.
In other news, Director Daniel M. Junius bought 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $3.18 per share, with a total value of $31,800.00. Following the purchase, the director now owns 18,000 shares of the company’s stock, valued at $57,240. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Bvf Partners L. P/Il bought 1,668,746 shares of the stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $3.18 per share, with a total value of $5,306,612.28. The disclosure for this purchase can be found here. Company insiders own 26.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of GlycoMimetics by 2.1% in the 2nd quarter. Swiss National Bank now owns 64,200 shares of the biotechnology company’s stock valued at $765,000 after buying an additional 1,300 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of GlycoMimetics by 22.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,400 shares of the biotechnology company’s stock valued at $200,000 after buying an additional 2,500 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of GlycoMimetics by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 81,784 shares of the biotechnology company’s stock valued at $975,000 after buying an additional 3,157 shares during the period. Aperio Group LLC acquired a new stake in shares of GlycoMimetics in the 2nd quarter valued at $49,000. Finally, AXA increased its stake in shares of GlycoMimetics by 0.6% in the 2nd quarter. AXA now owns 930,551 shares of the biotechnology company’s stock valued at $11,092,000 after buying an additional 5,407 shares during the period.
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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.
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