BidaskClub upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a sell rating to a hold rating in a report issued on Tuesday.
A number of other research firms have also recently commented on GLYC. Stifel Nicolaus reiterated a buy rating and set a $24.00 price target on shares of GlycoMimetics in a report on Sunday, August 12th. Cowen reiterated a buy rating on shares of GlycoMimetics in a report on Monday, August 13th. Zacks Investment Research upgraded GlycoMimetics from a sell rating to a hold rating in a report on Tuesday, July 31st. ValuEngine upgraded GlycoMimetics from a buy rating to a strong-buy rating in a report on Monday, October 8th. Finally, Roth Capital set a $35.00 price target on GlycoMimetics and gave the stock a buy rating in a report on Monday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $25.00.
GlycoMimetics stock traded down $0.47 during midday trading on Tuesday, reaching $13.72. 2,303 shares of the company’s stock were exchanged, compared to its average volume of 288,323. GlycoMimetics has a 52 week low of $10.90 and a 52 week high of $26.05. The stock has a market capitalization of $576.31 million, a P/E ratio of -12.08 and a beta of 3.08.
In other GlycoMimetics news, SVP John L. Magnani sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $14.01, for a total transaction of $350,250.00. Following the completion of the sale, the senior vice president now directly owns 86,593 shares in the company, valued at $1,213,167.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Magnani sold 14,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total transaction of $198,942.00. Following the sale, the senior vice president now owns 86,593 shares of the company’s stock, valued at $1,213,167.93. The disclosure for this sale can be found here. Company insiders own 43.80% of the company’s stock.
Hedge funds have recently modified their holdings of the business. California Public Employees Retirement System acquired a new stake in GlycoMimetics during the first quarter worth approximately $166,000. WINTON GROUP Ltd acquired a new stake in GlycoMimetics during the third quarter worth approximately $186,000. Metropolitan Life Insurance Co. NY acquired a new stake in GlycoMimetics during the second quarter worth approximately $189,000. Voya Investment Management LLC acquired a new stake in GlycoMimetics during the second quarter worth approximately $205,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in GlycoMimetics during the second quarter worth approximately $264,000.
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. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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