GlycoMimetics (NASDAQ:GLYC) Share Price Passes Above 200-Day Moving Average of $0.00

GlycoMimetics Inc (NASDAQ:GLYC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $11.48. GlycoMimetics shares last traded at $11.25, with a volume of 3,104 shares.

Several equities research analysts have recently weighed in on GLYC shares. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, May 8th. Cowen reissued a “buy” rating on shares of GlycoMimetics in a research report on Friday, May 3rd. BidaskClub downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of GlycoMimetics in a research report on Friday, April 12th. Finally, Piper Jaffray Companies started coverage on shares of GlycoMimetics in a research report on Friday, April 12th. They issued an “overweight” rating and a $20.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.00.

The firm has a 50-day moving average price of $11.71. The company has a market capitalization of $496.58 million, a P/E ratio of -10.10 and a beta of 2.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 23.88 and a current ratio of 23.88.

GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.01. As a group, analysts forecast that GlycoMimetics Inc will post -1.18 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA bought a new stake in shares of GlycoMimetics during the 1st quarter valued at about $88,000. Metropolitan Life Insurance Co. NY grew its position in shares of GlycoMimetics by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,748 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 9,175 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of GlycoMimetics during the 4th quarter valued at about $114,000. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of GlycoMimetics during the 1st quarter valued at about $126,000. Finally, Two Sigma Investments LP bought a new stake in shares of GlycoMimetics during the 4th quarter valued at about $152,000.

About GlycoMimetics (NASDAQ:GLYC)

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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.

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