GlycoMimetics Inc (GLYC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in GlycoMimetics Inc (NASDAQ:GLYC) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,163 shares of the biotechnology company’s stock after buying an additional 2,718 shares during the period. Bank of New York Mellon Corp’s holdings in GlycoMimetics were worth $1,365,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Prentiss Smith & Co. Inc. boosted its holdings in GlycoMimetics by 42.9% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 3,000 shares during the period. Virtus ETF Advisers LLC boosted its holdings in GlycoMimetics by 3.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 29,862 shares of the biotechnology company’s stock worth $283,000 after purchasing an additional 1,057 shares during the period. Alliancebernstein L.P. boosted its holdings in GlycoMimetics by 44.2% in the third quarter. Alliancebernstein L.P. now owns 22,500 shares of the biotechnology company’s stock worth $324,000 after purchasing an additional 6,900 shares during the period. MetLife Investment Advisors LLC boosted its holdings in GlycoMimetics by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 25,810 shares of the biotechnology company’s stock worth $372,000 after purchasing an additional 9,175 shares during the period. Finally, Rhumbline Advisers boosted its holdings in GlycoMimetics by 47.4% in the fourth quarter. Rhumbline Advisers now owns 44,560 shares of the biotechnology company’s stock worth $422,000 after purchasing an additional 14,336 shares during the period.

A number of equities analysts have commented on the stock. BidaskClub raised shares of GlycoMimetics from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Jaffray Companies assumed coverage on shares of GlycoMimetics in a report on Friday, April 12th. They issued an “overweight” rating and a $20.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of GlycoMimetics in a report on Friday, April 12th. Zacks Investment Research downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, ValuEngine downgraded shares of GlycoMimetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.80.

GlycoMimetics stock opened at $12.91 on Friday. The firm has a market capitalization of $557.31 million, a price-to-earnings ratio of -10.94 and a beta of 2.76. GlycoMimetics Inc has a 12 month low of $8.29 and a 12 month high of $19.20.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Wednesday, March 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Equities analysts forecast that GlycoMimetics Inc will post -1.23 EPS for the current year.

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GlycoMimetics Company Profile

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.

Further Reading: What is the Bid-Ask Spread?

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Institutional Ownership by Quarter for GlycoMimetics (NASDAQ:GLYC)

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