GlycoMimetics (GLYC) Lowered to Hold at BidaskClub

Man Group plc increased its stake in GlycoMimetics by 627.1% in the 3rd quarter. Man Group plc now owns 411,995 shares of the biotechnology …

GlycoMimetics Inc logoBidaskClub downgraded shares of GlycoMimetics (NASDAQ:GLYC) from a buy rating to a hold rating in a research report report published on Wednesday morning, BidAskClub reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of GlycoMimetics from a hold rating to a sell rating in a report on Thursday, March 7th. ValuEngine lowered shares of GlycoMimetics from a strong-buy rating to a buy rating in a research note on Wednesday, January 2nd. Finally, HC Wainwright assumed coverage on shares of GlycoMimetics in a research note on Tuesday, December 18th. They set a buy rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $23.75.

GlycoMimetics stock traded up $0.21 during mid-day trading on Wednesday, hitting $12.21. 31,961 shares of the company were exchanged, compared to its average volume of 262,054. The company has a market capitalization of $518.04 million, a price-to-earnings ratio of -10.35 and a beta of 2.76. GlycoMimetics has a 12-month low of $8.29 and a 12-month high of $19.20.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Wednesday, March 6th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Research analysts anticipate that GlycoMimetics will post -1.19 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Redmile Group LLC lifted its holdings in shares of GlycoMimetics by 0.9% during the third quarter. Redmile Group LLC now owns 2,048,147 shares of the biotechnology company’s stock worth $29,493,000 after purchasing an additional 18,800 shares during the period. Jefferies Group LLC acquired a new stake in GlycoMimetics in the 3rd quarter valued at $2,458,000. Man Group plc increased its stake in GlycoMimetics by 627.1% in the 3rd quarter. Man Group plc now owns 411,995 shares of the biotechnology company’s stock valued at $5,933,000 after buying an additional 355,329 shares during the last quarter. Vanguard Group Inc increased its stake in GlycoMimetics by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 1,691,550 shares of the biotechnology company’s stock valued at $24,358,000 after buying an additional 26,951 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in GlycoMimetics by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 25,810 shares of the biotechnology company’s stock valued at $372,000 after buying an additional 9,175 shares during the last quarter.

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.

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