GlycoMimetics (GLYC) Stock Price Up -0.9%

GlycoMimetics Inc (NASDAQ:GLYC)’s share price rose 0.9% during mid-day trading on Friday . The stock traded as high as $18.85 and last traded at $17.68. Approximately 382,900 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 587,667 shares. The stock had previously closed at $17.84.

GLYC has been the subject of several recent analyst reports. Zacks Investment Research raised GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday, November 13th. Roth Capital initiated coverage on GlycoMimetics in a report on Monday, October 23rd. They issued a “buy” rating and a $25.00 target price for the company. Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a report on Wednesday, December 6th. SunTrust Banks upped their target price on GlycoMimetics to $32.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of GlycoMimetics in a report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.00.

The firm has a market cap of $612.59, a price-to-earnings ratio of -15.18 and a beta of 3.21.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. analysts expect that GlycoMimetics Inc will post -1.12 EPS for the current fiscal year.

In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the completion of the transaction, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at $2,230,711.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 43.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. grew its holdings in GlycoMimetics by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 358,962 shares of the biotechnology company’s stock valued at $5,022,000 after purchasing an additional 8,962 shares during the period. Citadel Advisors LLC grew its holdings in GlycoMimetics by 161.9% during the third quarter. Citadel Advisors LLC now owns 58,422 shares of the biotechnology company’s stock valued at $817,000 after purchasing an additional 36,111 shares during the period. EAM Investors LLC grew its holdings in GlycoMimetics by 9.5% during the third quarter. EAM Investors LLC now owns 371,030 shares of the biotechnology company’s stock valued at $5,191,000 after purchasing an additional 32,285 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in GlycoMimetics by 43.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 18,974 shares of the biotechnology company’s stock valued at $265,000 after purchasing an additional 5,767 shares during the period. Finally, Columbus Circle Investors grew its holdings in GlycoMimetics by 48.7% during the third quarter. Columbus Circle Investors now owns 201,980 shares of the biotechnology company’s stock valued at $2,826,000 after purchasing an additional 66,177 shares during the period. 86.66% of the stock is owned by institutional investors and hedge funds.

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About GlycoMimetics

GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.

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