GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Price Performance

Shares of GlycoMimetics stock opened at $0.31 on Tuesday. The firm has a fifty day moving average price of $0.26 and a 200 day moving average price of $0.24. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.36.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. As a group, equities analysts expect that GlycoMimetics will post -0.08 EPS for the current year.

Hedge Funds Weigh In On GlycoMimetics

Hedge funds have recently made changes to their positions in the company. Caxton Corp acquired a new position in shares of GlycoMimetics during the 4th quarter worth approximately $51,000. ADAR1 Capital Management LLC boosted its stake in 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 buying an additional 286,127 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in GlycoMimetics during the fourth quarter worth $106,000. Wellington Management Group LLP purchased a new stake in GlycoMimetics in the 4th quarter valued at $352,000. Finally, VR Adviser LLC acquired a new stake in shares of GlycoMimetics in the 4th quarter worth $747,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.