GlycoMimetics (NASDAQ:GLYC) Downgraded to “Hold” at TD Cowen

TD Cowen cut shares of GlycoMimetics (NASDAQ:GLYC) from a buy rating to a hold rating in a research note published on Friday, MarketBeat.com reports.

Several other brokerages have also issued reports on GLYC. StockNews.com started coverage on shares of GlycoMimetics in a research note on Thursday. They set a sell rating on the stock. Capital One Financial downgraded shares of GlycoMimetics from an overweight rating to an equal weight rating in a research note on Monday, May 6th. Finally, HC Wainwright reaffirmed a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th.

GlycoMimetics Price Performance

GLYC opened at $0.24 on Friday. GlycoMimetics has a fifty-two week low of $0.20 and a fifty-two week high of $3.53. The firm has a market capitalization of $15.55 million, a price-to-earnings ratio of -0.42 and a beta of 2.19. The company’s 50 day moving average price is $0.28 and its two-hundred day moving average price is $1.73.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). As a group, equities research analysts predict that GlycoMimetics will post -0.62 EPS for the current year.

Insider Buying and Selling

In other news, insider Edwin Rock bought 190,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $0.25 per share, with a total value of $47,500.00. Following the completion of the purchase, the insider now directly owns 565,403 shares in the company, valued at $141,350.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by insiders.

Institutional Trading of GlycoMimetics

A hedge fund recently bought a new stake in GlycoMimetics stock. Advisor OS LLC purchased a new stake in GlycoMimetics, Inc. (NASDAQ:GLYC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 101,000 shares of the biotechnology company’s stock, valued at approximately $238,000. Advisor OS LLC owned approximately 0.16% of GlycoMimetics as of its most recent SEC filing. Institutional investors and hedge funds own 75.19% of the company’s stock.

GlycoMimetics Company Profile

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.