GlycoMimetics (NASDAQ:GLYC) Shares Down 6%

GlycoMimetics Inc (NASDAQ:GLYC)’s share price fell 6% during mid-day trading on Friday . The stock traded as low as $11.11 and last traded at $11.17, 632,799 shares traded hands during mid-day trading. An increase of 150% from the average session volume of 253,092 shares. The stock had previously closed at $11.88.

Several brokerages have recently issued reports on GLYC. HC Wainwright set a $5.00 target price on shares of SuperCom and gave the stock a “buy” rating in a report on Friday, April 12th. Cowen set a $150.00 price target on Tesla and gave the stock a “sell” rating in a research note on Friday, May 3rd. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Piper Jaffray Companies set a $80.00 price target on Canopy Growth and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. GlycoMimetics currently has an average rating of “Buy” and a consensus price target of $23.00.

The business has a 50 day simple moving average of $11.72. The firm has a market capitalization of $510.82 million, a P/E ratio of -9.47 and a beta of 2.47. The company has a current ratio of 23.88, a quick ratio of 23.88 and a debt-to-equity ratio of 0.02.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01. As a group, research analysts predict that GlycoMimetics Inc will post -1.18 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in GLYC. FMR LLC lifted its position in GlycoMimetics by 10.3% during the first quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock valued at $48,553,000 after buying an additional 365,096 shares during the period. Dimensional Fund Advisors LP lifted its position in GlycoMimetics by 58.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,420 shares of the biotechnology company’s stock valued at $5,847,000 after buying an additional 228,664 shares during the period. Asymmetry Capital Management L.P. purchased a new position in GlycoMimetics during the first quarter valued at $1,707,000. Candriam Luxembourg S.C.A. purchased a new position in GlycoMimetics during the first quarter valued at $915,000. Finally, Squarepoint Ops LLC lifted its position in GlycoMimetics by 259.3% during the fourth quarter. Squarepoint Ops LLC now owns 84,115 shares of the biotechnology company’s stock valued at $797,000 after buying an additional 60,701 shares during the period.

About GlycoMimetics (NASDAQ:GLYC)

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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