GlycoMimetics (GLYC) Sets New 1-Year Low at $10.60

GlycoMimetics Inc (NASDAQ:GLYC) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.60 and last traded at $10.95, with a volume of 12326 shares traded. The stock had previously closed at $11.24.

A number of research analysts recently issued reports on the company. BidaskClub upgraded GlycoMimetics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 13th. ValuEngine downgraded GlycoMimetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 27th. Roth Capital set a $35.00 price objective on GlycoMimetics and gave the stock a “buy” rating in a report on Monday, November 5th. Zacks Investment Research downgraded GlycoMimetics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Cowen reiterated a “buy” rating on shares of GlycoMimetics in a report on Monday, August 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.

The company 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 posted its quarterly earnings results on Friday, November 2nd. The biotechnology company reported ($0.27) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03. On average, equities research analysts predict that GlycoMimetics Inc will post -1.16 earnings per share for the current fiscal year.

In other GlycoMimetics news, SVP John L. Magnani sold 14,200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 86,593 shares in the company, valued at $1,213,167.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John L. Magnani sold 25,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,213,167.93. The disclosure for this sale can be found here. 43.80% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of GlycoMimetics by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,691,550 shares of the biotechnology company’s stock worth $24,358,000 after acquiring an additional 26,951 shares during the period. Teachers Advisors LLC boosted its stake in shares of GlycoMimetics by 7.9% during the 3rd quarter. Teachers Advisors LLC now owns 69,350 shares of the biotechnology company’s stock worth $999,000 after acquiring an additional 5,058 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of GlycoMimetics by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 25,810 shares of the biotechnology company’s stock worth $372,000 after acquiring an additional 9,175 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of GlycoMimetics by 2.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 185,000 shares of the biotechnology company’s stock worth $2,664,000 after acquiring an additional 5,000 shares during the period. Finally, Redmile Group LLC boosted its stake in shares of GlycoMimetics by 0.9% during the 3rd quarter. Redmile Group LLC now owns 2,048,147 shares of the biotechnology company’s stock worth $29,493,000 after acquiring an additional 18,800 shares during the period.

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GlycoMimetics Company Profile (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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