Millennium Management LLC reduced its holdings in GlycoMimetics Inc (NASDAQ:GLYC) by 98.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,173 shares of the biotechnology company’s stock after selling 671,832 shares during the period. Millennium Management LLC’s holdings in GlycoMimetics were worth $221,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GLYC. AXA bought a new position in GlycoMimetics in the 4th quarter worth approximately $8,579,000. BlackRock Inc. increased its position in GlycoMimetics by 89.1% in the 4th quarter. BlackRock Inc. now owns 991,948 shares of the biotechnology company’s stock worth $16,655,000 after buying an additional 467,338 shares during the period. Citadel Advisors LLC increased its position in GlycoMimetics by 607.1% in the 4th quarter. Citadel Advisors LLC now owns 413,119 shares of the biotechnology company’s stock worth $6,937,000 after buying an additional 354,697 shares during the period. Sphera Funds Management LTD. bought a new position in GlycoMimetics in the 4th quarter worth approximately $5,457,000. Finally, Nexthera Capital LP increased its position in GlycoMimetics by 49.5% in the 4th quarter. Nexthera Capital LP now owns 480,442 shares of the biotechnology company’s stock worth $8,067,000 after buying an additional 159,156 shares during the period.
Several research analysts have commented on the company. BidaskClub raised GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. ValuEngine raised GlycoMimetics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Stifel Nicolaus lifted their price target on GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Finally, Roth Capital set a $35.00 price target on GlycoMimetics and gave the stock a “buy” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.20.
GLYC opened at $17.77 on Thursday. The company has a market cap of $753.05 million, a PE ratio of -15.73 and a beta of 3.43. GlycoMimetics Inc has a 1 year low of $10.06 and a 1 year high of $26.05.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). analysts predict that GlycoMimetics Inc will post -1.17 EPS for the current year.
In other news, Director M James Barrett sold 9,539 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $17.81, for a total transaction of $169,889.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 43.80% of the company’s stock.
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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