Shares of GlycoMimetics Inc (NASDAQ:GLYC) reached a new 52-week low on Thursday . The stock traded as low as $10.60 and last traded at $10.95, with a volume of 12326 shares. The stock had previously closed at $11.24.
Several analysts recently weighed in on the company. ValuEngine cut GlycoMimetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 27th. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Roth Capital set a $35.00 price objective on GlycoMimetics and gave the company a “buy” rating in a report on Monday, November 5th. Zacks Investment Research cut GlycoMimetics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a report on Monday, August 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. GlycoMimetics has an average rating of “Buy” and a consensus target price of $28.00.
The firm has a market cap of $468.90 million, a price-to-earnings ratio of -9.34 and a beta of 3.04.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. On average, equities research analysts predict that GlycoMimetics Inc will post -1.16 EPS for the current fiscal year.
In other news, SVP John L. Magnani sold 14,200 shares of GlycoMimetics stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total value of $198,942.00. Following the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John L. Magnani sold 25,000 shares of GlycoMimetics stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $14.01, for a total value of $350,250.00. Following the completion of the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The disclosure for this sale can be found here. 43.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of GLYC. WINTON GROUP Ltd bought a new position in shares of GlycoMimetics in the 3rd quarter valued at $186,000. Metropolitan Life Insurance Co. NY bought a new position in shares of GlycoMimetics in the 2nd quarter valued at $189,000. Voya Investment Management LLC bought a new position in shares of GlycoMimetics in the 2nd quarter valued at $205,000. Quantitative Systematic Strategies LLC bought a new position in shares of GlycoMimetics in the 2nd quarter valued at $264,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of GlycoMimetics in the 2nd quarter valued at $268,000.
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About GlycoMimetics (NASDAQ:GLYC)
GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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