Shares of GlycoMimetics Inc (NASDAQ:GLYC) have been given a consensus rating of “Buy” by the nine analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.75.
A number of analysts have recently weighed in on the company. Cowen assumed coverage on GlycoMimetics in a research report on Friday, March 27th. They set a “buy” rating for the company. Zacks Investment Research downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of GlycoMimetics in a research report on Friday, May 1st.
GLYC traded up $0.45 during trading on Friday, hitting $3.46. The stock had a trading volume of 4,342,142 shares, compared to its average volume of 1,173,466. The company has a 50 day moving average price of $2.99 and a 200-day moving average price of $3.66. The firm has a market cap of $131.18 million, a price-to-earnings ratio of -2.88 and a beta of 2.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.78 and a quick ratio of 14.78. GlycoMimetics has a one year low of $1.82 and a one year high of $13.44.
Institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in GlycoMimetics by 10.3% in the 1st quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock worth $48,553,000 after purchasing an additional 365,096 shares in the last quarter. California Public Employees Retirement System grew its position in shares of GlycoMimetics by 474.0% in the 4th quarter. California Public Employees Retirement System now owns 60,307 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 49,800 shares during the last quarter. Bank of Montreal Can increased its stake in shares of GlycoMimetics by 149.9% in the fourth quarter. Bank of Montreal Can now owns 7,413 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 4,447 shares during the period. Barclays PLC raised its position in shares of GlycoMimetics by 42.6% during the fourth quarter. Barclays PLC now owns 57,462 shares of the biotechnology company’s stock worth $304,000 after acquiring an additional 17,176 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of GlycoMimetics in the fourth quarter worth approximately $98,000. 91.00% of the stock is owned by institutional investors.
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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