Zacks Investment Research cut shares of GlycoMimetics, Inc. (NASDAQ:GLYC) from a hold rating to a sell rating in a research note released on Monday, August 7th.
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 also recently issued research reports about the stock. Canaccord Genuity reaffirmed a buy rating and issued a $12.00 price objective on shares of GlycoMimetics in a research report on Friday, May 19th. Cowen and Company reaffirmed a buy rating on shares of GlycoMimetics in a research report on Tuesday, May 9th. SunTrust Banks, Inc. set a $21.00 price target on shares of GlycoMimetics and gave the stock a buy rating in a research report on Monday, August 7th. Stifel Nicolaus reissued a buy rating and set a $17.00 price target (up previously from $13.00) on shares of GlycoMimetics in a research report on Friday, August 4th. Finally, Jefferies Group LLC decreased their price target on shares of GlycoMimetics from $16.00 to $9.00 and set a buy rating for the company in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. GlycoMimetics presently has an average rating of Hold and a consensus target price of $14.20.
GlycoMimetics (GLYC) opened at 10.48 on Monday. The company has a 50-day moving average of $11.24 and a 200-day moving average of $8.35. GlycoMimetics has a 52 week low of $3.82 and a 52 week high of $16.94. The stock’s market cap is $342.94 million.
GlycoMimetics (NASDAQ:GLYC) last issued 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. On average, analysts predict that GlycoMimetics will post ($1.22) EPS for the current fiscal year.
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In related news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 152,615 shares in the company, valued at $2,376,215.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 43.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Prentiss Smith & Co. Inc. boosted its position in shares of GlycoMimetics by 42.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 3,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of GlycoMimetics during the second quarter valued at about $146,000. Citadel Advisors LLC purchased a new position in shares of GlycoMimetics during the second quarter valued at about $249,000. Russell Investments Group Ltd. purchased a new position in shares of GlycoMimetics during the fourth quarter valued at about $172,000. Finally, TD Asset Management Inc. purchased a new position in shares of GlycoMimetics during the second quarter valued at about $362,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.
GlycoMimetics Company Profile
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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