GlycoMimetics, Inc. (NASDAQ:GLYC) Major Shareholder Sells $87,347.76 in Stock

GlycoMimetics, Inc. (NASDAQ:GLYC) major shareholder Public Equities L.P. Invus sold 363,949 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $0.24, for a total value of $87,347.76. Following the transaction, the insider now directly owns 7,966,780 shares in the company, valued at approximately $1,912,027.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Public Equities L.P. Invus also recently made the following trade(s):

• On Friday, July 26th, Public Equities L.P. Invus sold 258,335 shares of GlycoMimetics stock. The stock was sold at an average price of $0.24, for a total value of $62,000.40.

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.22 on Friday. GlycoMimetics, Inc. has a twelve month low of $0.20 and a twelve month high of $3.53. The stock’s 50 day moving average is $0.27 and its two-hundred day moving average is $1.65. The firm has a market capitalization of $13.92 million, a PE ratio of -0.37 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). On average, sell-side analysts predict that GlycoMimetics, Inc. will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GlycoMimetics stock. Advisor OS LLC acquired a new position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 101,000 shares of the biotechnology company’s stock, valued at approximately $238,000. Advisor OS LLC owned about 0.16% of GlycoMimetics at the end of the most recent reporting period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of GlycoMimetics in a report on Tuesday, June 4th. StockNews.com assumed coverage on GlycoMimetics in a report on Friday. They set a “sell” rating on the stock. TD Cowen lowered GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Capital One Financial lowered GlycoMimetics from an “overweight” rating to an “equal weight” rating in a report on Monday, May 6th.

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.