GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

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

GlycoMimetics Stock Up 2.7 %

Shares of GLYC opened at $0.27 on Thursday. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.18. The stock has a 50 day simple moving average of $0.27 and a two-hundred day simple moving average of $0.25.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. On average, equities research analysts forecast that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in GlycoMimetics in the fourth quarter worth about $106,000. VR Adviser LLC purchased a new position in GlycoMimetics in the fourth quarter worth about $747,000. Caxton Corp purchased a new position in GlycoMimetics in the fourth quarter worth about $51,000. Adage Capital Partners GP L.L.C. purchased a new position in GlycoMimetics in the fourth quarter worth about $1,268,000. Finally, Wellington Management Group LLP purchased a new position in GlycoMimetics in the fourth quarter worth about $352,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

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.