GlycoMimetics (NASDAQ:GLYC) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC – Get Rating) in a research report sent to investors on Friday. The brokerage issued a hold rating on the biotechnology company’s stock.

NASDAQ:GLYC opened at $0.92 on Friday. GlycoMimetics has a one year low of $0.92 and a one year high of $2.83. The firm has a market cap of $48.43 million, a price-to-earnings ratio of -0.75 and a beta of 1.82. The firm’s fifty day moving average is $1.12 and its two-hundred day moving average is $1.46.

GlycoMimetics (NASDAQ:GLYC – Get Rating) last posted its quarterly earnings results on Thursday, March 3rd. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The business had revenue of $0.02 million for the quarter. During the same period last year, the business earned ($0.32) EPS. On average, research analysts predict that GlycoMimetics will post -1.32 EPS for the current year.

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in GlycoMimetics by 46.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,533 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 12,158 shares during the last quarter. Eversept Partners LP purchased a new stake in shares of GlycoMimetics during the 4th quarter worth about $144,000. Morgan Stanley boosted its stake in shares of GlycoMimetics by 52.9% during the 3rd quarter. Morgan Stanley now owns 67,924 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 23,510 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of GlycoMimetics during the 4th quarter worth about $210,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of GlycoMimetics by 5.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,298 shares of the biotechnology company’s stock worth $246,000 after acquiring an additional 5,856 shares in the last quarter. 57.33% of the stock is currently owned by institutional investors.

About GlycoMimetics (Get Rating)

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. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML.

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