GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

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

GlycoMimetics Stock Up 3.8 %

Shares of GLYC stock opened at $0.28 on Wednesday. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.18. The company has a 50 day simple moving average of $0.27 and a two-hundred day simple moving average of $0.25.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. On average, research analysts expect that GlycoMimetics will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of GlycoMimetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Caxton Corp purchased a new stake in shares of GlycoMimetics in the fourth quarter worth $51,000. ADAR1 Capital Management LLC increased its stake in shares of GlycoMimetics by 626.1% in 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 in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of GlycoMimetics in the fourth quarter worth $106,000. Wellington Management Group LLP purchased a new stake in shares of GlycoMimetics in the fourth quarter worth $352,000. Finally, VR Adviser LLC purchased a new stake in shares of GlycoMimetics in the fourth quarter worth $747,000. 75.19% of the stock is 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.