GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating on the biotechnology company’s stock.

Separately, StockNews.com initiated coverage on shares of GlycoMimetics in a research note on Friday, March 14th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

GlycoMimetics Price Performance

GLYC stock opened at $0.27 on Friday. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.18. The firm has a 50 day simple moving average of $0.27 and a 200 day simple moving average of $0.26.

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

Institutional Investors Weigh In On GlycoMimetics

A number of large investors have recently made changes to their positions in the company. Caxton Corp acquired a new stake in shares of GlycoMimetics during the fourth quarter valued at approximately $51,000. ADAR1 Capital Management LLC raised its holdings in shares of GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 286,127 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of GlycoMimetics during the fourth quarter valued at approximately $106,000. Wellington Management Group LLP acquired a new position in GlycoMimetics in the 4th quarter valued at approximately $352,000. Finally, VR Adviser LLC acquired a new position in GlycoMimetics in the 4th quarter valued at approximately $747,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.