GlycoMimetics (NASDAQ:GLYC) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating on the biotechnology company’s stock.

Separately, StockNews.com started coverage on shares of GlycoMimetics in a research note on Friday, March 14th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.00.

GlycoMimetics Stock Down 0.5 %

Shares of NASDAQ:GLYC opened at $0.27 on Friday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.18. The firm has a 50-day simple moving average of $0.27 and a 200 day simple moving average of $0.26.

GlycoMimetics (NASDAQ:GLYC) last announced 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. As a group, analysts expect that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLYC. Caxton Corp acquired a new position in GlycoMimetics during the 4th quarter valued at about $51,000. ADAR1 Capital Management LLC lifted its stake in shares of GlycoMimetics by 626.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 286,127 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $106,000. Wellington Management Group LLP acquired a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $352,000. Finally, VR Adviser LLC acquired a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $747,000. 75.19% of the stock is owned by institutional investors and hedge funds.

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.