GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report released on Friday. The firm issued a sell rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen cut shares of GlycoMimetics from a buy rating to a hold rating in a report on Friday, July 26th. Capital One Financial cut shares of GlycoMimetics from an overweight rating to an equal weight rating in a report on Monday, May 6th. Finally, HC Wainwright restated a neutral rating on shares of GlycoMimetics in a report on Tuesday, June 4th.

GlycoMimetics Stock Down 9.3 %

GLYC opened at $0.18 on Friday. GlycoMimetics has a twelve month low of $0.17 and a twelve month high of $3.53. The company has a fifty day moving average of $0.27 and a 200-day moving average of $1.61. The stock has a market cap of $11.87 million, a PE ratio of -0.32 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Sell-side analysts anticipate that GlycoMimetics will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $0.24, for a total value of $62,000.40. Following the transaction, the insider now directly owns 8,330,729 shares of the company’s stock, valued at $1,999,374.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Edwin Rock purchased 190,000 shares of the company’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 transaction, the insider now directly owns 565,403 shares of the company’s stock, valued at $141,350.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 258,335 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $0.24, for a total transaction of $62,000.40. Following the transaction, the insider now directly owns 8,330,729 shares in the company, valued at $1,999,374.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 685,848 shares of company stock valued at $163,332. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GlycoMimetics stock. Advisor OS LLC acquired a new position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 101,000 shares of the biotechnology company’s stock, valued at approximately $238,000. Advisor OS LLC owned about 0.16% of GlycoMimetics as of its most recent filing with the Securities and Exchange Commission (SEC). 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.