Zacks Investment Research downgraded shares of GlycoMimetics, Inc. (NASDAQ:GLYC) from a buy rating to a hold rating in a research report sent to investors on Thursday, July 20th.
According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “
Other analysts have also recently issued research reports about the company. Canaccord Genuity restated a buy rating and set a $12.00 price objective on shares of GlycoMimetics in a research note on Friday, May 19th. Cowen and Company reiterated a buy rating on shares of GlycoMimetics in a research report on Tuesday, May 9th. Stifel Nicolaus reiterated a buy rating and set a $13.00 price target on shares of GlycoMimetics in a research report on Tuesday, June 6th. Jefferies Group LLC dropped their price target on GlycoMimetics from $16.00 to $9.00 and set a buy rating on the stock in a research report on Tuesday, June 6th. Finally, ValuEngine upgraded GlycoMimetics from a sell rating to a hold rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $14.20.
GlycoMimetics (NASDAQ:GLYC) opened at 11.93 on Thursday. The firm has a 50 day moving average price of $11.55 and a 200 day moving average price of $7.97. GlycoMimetics has a 52 week low of $3.82 and a 52 week high of $16.94. The stock’s market capitalization is $293.96 million.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.07. Equities research analysts predict that GlycoMimetics will post ($1.22) earnings per share for the current year.
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In other news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $15.57, for a total transaction of $31,140.00. Following the sale, the senior vice president now directly owns 152,615 shares in the company, valued at approximately $2,376,215.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Jennison Associates LLC acquired a new position in shares of GlycoMimetics during the second quarter worth about $17,786,000. Wellington Management Group LLP raised its position in shares of GlycoMimetics by 14.9% in the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after buying an additional 416,834 shares during the period. Columbus Circle Investors acquired a new position in shares of GlycoMimetics during the second quarter worth about $1,516,000. Bank of New York Mellon Corp raised its position in shares of GlycoMimetics by 159.4% in the second quarter. Bank of New York Mellon Corp now owns 92,911 shares of the biotechnology company’s stock worth $1,037,000 after buying an additional 57,091 shares during the period. Finally, Private Capital Advisors Inc. acquired a new position in shares of GlycoMimetics during the second quarter worth about $446,000. 61.80% of the stock is owned by institutional investors and hedge funds.
About GlycoMimetics
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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