GlycoMimetics, Inc. (NASDAQ:GLYC – Get Free Report) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,870,000 shares, an increase of 30.5% from the February 13th total of 2,200,000 shares. Based on an average trading volume of 1,460,000 shares, the short-interest ratio is presently 2.0 days. Approximately 4.9% of the shares of the stock are short sold.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on shares of GlycoMimetics in a research report on Friday. They issued a “sell” rating for the company.
Check Out Our Latest Stock Report on GLYC
GlycoMimetics Stock Performance
GlycoMimetics (NASDAQ:GLYC – Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. On average, equities analysts expect that GlycoMimetics will post -0.08 EPS for the current year.
Hedge Funds Weigh In On GlycoMimetics
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in GlycoMimetics during the fourth quarter worth approximately $106,000. VR Adviser LLC acquired a new position in GlycoMimetics during the fourth quarter worth approximately $747,000. Caxton Corp acquired a new position in GlycoMimetics during the fourth quarter worth approximately $51,000. Adage Capital Partners GP L.L.C. acquired a new position in GlycoMimetics during the fourth quarter worth approximately $1,268,000. Finally, ADAR1 Capital Management LLC increased its position in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the last quarter. 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.
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