GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report released on Wednesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Up 4.2 %

Shares of NASDAQ:GLYC opened at $0.27 on Wednesday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.18. The firm has a 50-day simple moving average of $0.27 and a 200 day simple moving average of $0.25.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. As a group, analysts expect that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLYC. Jefferies Financial Group Inc. bought a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $106,000. VR Adviser LLC bought a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $747,000. Caxton Corp bought a new stake in shares of GlycoMimetics in the 4th quarter worth approximately $51,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of GlycoMimetics during the fourth quarter valued at approximately $1,268,000. Finally, ADAR1 Capital Management LLC raised its holdings in shares of GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 286,127 shares during the period. 75.19% of the stock is owned by institutional investors and hedge funds.

About GlycoMimetics

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.