GlycoMimetics Inc (NASDAQ:GLYC) has been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.45.
A number of research analysts have commented on the stock. SunTrust Banks cut shares of GlycoMimetics from a “buy” rating to a “hold” rating and cut their price target for the stock from $23.00 to $5.00 in a research note on Monday, August 5th. Piper Jaffray Companies cut shares of GlycoMimetics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $6.00 in a research note on Sunday, August 4th. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Wednesday, August 7th. Jefferies Financial Group cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, BidaskClub cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th.
Shares of NASDAQ GLYC traded down $0.17 during mid-day trading on Friday, hitting $3.20. The company had a trading volume of 316,890 shares, compared to its average volume of 1,852,851. The firm has a market cap of $145.56 million, a P/E ratio of -2.71 and a beta of 2.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 17.54 and a quick ratio of 17.54. GlycoMimetics has a 12 month low of $2.64 and a 12 month high of $15.59. The business’s 50-day simple moving average is $7.94 and its 200-day simple moving average is $10.96.
In other GlycoMimetics news, Director Daniel M. Junius purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $3.18 per share, for a total transaction of $31,800.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at $57,240. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.80% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Aperio Group LLC bought a new position in shares of GlycoMimetics in the second quarter valued at approximately $49,000. BNP Paribas Arbitrage SA acquired a new stake in shares of GlycoMimetics in the first quarter valued at approximately $88,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of GlycoMimetics in the second quarter valued at approximately $123,000. GSA Capital Partners LLP acquired a new stake in shares of GlycoMimetics in the second quarter valued at approximately $185,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of GlycoMimetics by 22.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,400 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 2,500 shares in the last quarter.
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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