GlycoMimetics (NASDAQ:GLYC) Shares Pass Below 200-Day Moving Average – Here’s What Happened

GlycoMimetics, Inc. (NASDAQ:GLYC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.27 and traded as low as $0.25. GlycoMimetics shares last traded at $0.25, with a volume of 173,587 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on GlycoMimetics in a report on Friday, March 21st. They set an “overweight” rating for the company. StockNews.com started coverage on GlycoMimetics in a research note on Saturday. They issued a “sell” rating for the company.

GlycoMimetics Trading Down 1.1%

The stock has a market cap of $15.94 million, a P/E ratio of -0.54 and a beta of 1.70. The company has a 50 day simple moving average of $0.24 and a 200 day simple moving average of $0.27.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. As a group, sell-side analysts expect that GlycoMimetics, Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On GlycoMimetics

Several large investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. raised its position in shares of GlycoMimetics by 38.0% during the first quarter. Jefferies Financial Group Inc. now owns 585,000 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 161,223 shares during the last quarter. Caxton Corp bought a new position in shares of GlycoMimetics during the fourth quarter worth about $51,000. ADAR1 Capital Management LLC raised its position in shares of 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 acquiring an additional 286,127 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of GlycoMimetics during the fourth quarter worth about $352,000. Finally, VR Adviser LLC bought a new position in shares of GlycoMimetics during the fourth quarter worth about $747,000. 75.19% of the stock is currently owned by institutional investors.

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.