GlycoMimetics (NASDAQ:GLYC) released its earnings results on Tuesday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.01), Bloomberg Earnings reports.
GlycoMimetics (GLYC) traded up $0.18 during mid-day trading on Wednesday, reaching $18.66. The company’s stock had a trading volume of 756,177 shares, compared to its average volume of 797,880. The firm has a market capitalization of $647.95, a PE ratio of -16.23 and a beta of 3.23. GlycoMimetics has a one year low of $3.82 and a one year high of $26.05.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in GlycoMimetics during the fourth quarter worth $103,000. Paloma Partners Management Co acquired a new stake in GlycoMimetics during the fourth quarter worth $170,000. Fox Run Management L.L.C. acquired a new stake in GlycoMimetics during the third quarter worth $173,000. First Mercantile Trust Co. increased its stake in GlycoMimetics by 26.6% during the fourth quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 2,466 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in GlycoMimetics during the fourth quarter worth $210,000. 92.90% of the stock is owned by institutional investors.
GLYC has been the topic of several research reports. Cowen restated a “buy” rating on shares of GlycoMimetics in a research report on Wednesday, December 6th. SunTrust Banks lifted their price objective on GlycoMimetics to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Jefferies Group reiterated a “buy” rating and set a $21.00 price objective on shares of GlycoMimetics in a research report on Wednesday, December 20th. Finally, Roth Capital set a $35.00 price objective on GlycoMimetics and gave the stock a “buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.00.
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GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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