GlycoMimetics, Inc. Expected to Earn Q1 2024 Earnings of ($0.17) Per Share (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – HC Wainwright cut their Q1 2024 earnings per share estimates for GlycoMimetics in a research note issued to investors on Monday, May 6th. HC Wainwright analyst E. White now anticipates that the biotechnology company will post earnings per share of ($0.17) for the quarter, down from their prior forecast of ($0.14). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.54) per share. HC Wainwright also issued estimates for GlycoMimetics’ Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.46) EPS and FY2026 earnings at ($0.09) EPS.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $0.01 million during the quarter.

A number of other equities research analysts have also recently commented on the company. Capital One Financial cut GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research note on Monday. StockNews.com cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th.

GlycoMimetics Trading Down 3.2 %

NASDAQ GLYC opened at $0.31 on Wednesday. GlycoMimetics has a 12-month low of $0.27 and a 12-month high of $3.53. The firm’s fifty day simple moving average is $2.42 and its two-hundred day simple moving average is $2.33. The firm has a market capitalization of $19.68 million, a P/E ratio of -0.53 and a beta of 2.30.

Institutional Investors Weigh In On GlycoMimetics

A number of large investors have recently bought and sold shares of the company. Acuta Capital Partners LLC acquired a new stake in GlycoMimetics during the 3rd quarter valued at approximately $41,000. Advisor OS LLC acquired a new stake in shares of GlycoMimetics in the fourth quarter worth $238,000. Finally, MJP Associates Inc. ADV purchased a new position in shares of GlycoMimetics during the fourth quarter worth $238,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.