Insider Selling: GlycoMimetics Inc (GLYC) CFO Sells 19,345 Shares of Stock

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GlycoMimetics Inc (NASDAQ:GLYC) CFO Brian M. Hahn sold 19,345 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $18.04, for a total transaction of $348,983.80. Following the sale, the chief financial officer now owns 19,345 shares of the company’s stock, valued at $348,983.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

GlycoMimetics opened at $17.94 on Wednesday, MarketBeat reports. GlycoMimetics Inc has a 12-month low of $10.06 and a 12-month high of $26.05. The stock has a market cap of $765.80 million, a P/E ratio of -15.88 and a beta of 3.42.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.05). analysts predict that GlycoMimetics Inc will post -1.18 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of GlycoMimetics during the fourth quarter valued at about $103,000. Paloma Partners Management Co acquired a new stake in shares of GlycoMimetics during the fourth quarter valued at about $170,000. California Public Employees Retirement System acquired a new stake in shares of GlycoMimetics during the first quarter valued at about $166,000. First Mercantile Trust Co. increased its position in shares of GlycoMimetics by 26.6% during the fourth quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock valued at $197,000 after acquiring an additional 2,466 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of GlycoMimetics during the fourth quarter valued at about $210,000.

Several equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. ValuEngine upgraded shares of GlycoMimetics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Finally, Stifel Nicolaus raised their price objective on shares of GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $25.20.

About GlycoMimetics

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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