GlycoMimetics Inc (NASDAQ:GLYC) hit a new 52-week high on Thursday . The company traded as high as $21.75 and last traded at $19.65, with a volume of 536000 shares changing hands. The stock had previously closed at $18.79.
A number of equities research analysts have weighed in on the stock. Jefferies Group reissued a “buy” rating and issued a $21.00 price target on shares of GlycoMimetics in a report on Wednesday, December 20th. Zacks Investment Research downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Wednesday. SunTrust Banks reaffirmed a “buy” rating and set a $21.00 price objective on shares of GlycoMimetics in a research note on Wednesday, October 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 price objective on shares of GlycoMimetics in a research note on Thursday, December 14th. Finally, Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. GlycoMimetics currently has an average rating of “Buy” and a consensus price target of $21.00.
The firm has a market capitalization of $674.74, a P/E ratio of -17.54 and a beta of 3.21.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $15.01, for a total transaction of $30,020.00. Following the completion of the sale, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at $2,230,711.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 43.80% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. increased its holdings in shares of GlycoMimetics by 2.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 358,962 shares of the biotechnology company’s stock valued at $5,022,000 after purchasing an additional 8,962 shares during the period. Citadel Advisors LLC increased its holdings in GlycoMimetics by 161.9% in the third quarter. Citadel Advisors LLC now owns 58,422 shares of the biotechnology company’s stock worth $817,000 after buying an additional 36,111 shares during the last quarter. EAM Investors LLC increased its holdings in GlycoMimetics by 9.5% in the third quarter. EAM Investors LLC now owns 371,030 shares of the biotechnology company’s stock worth $5,191,000 after buying an additional 32,285 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in GlycoMimetics by 43.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 18,974 shares of the biotechnology company’s stock worth $265,000 after buying an additional 5,767 shares during the last quarter. Finally, Columbus Circle Investors increased its holdings in GlycoMimetics by 48.7% in the third quarter. Columbus Circle Investors now owns 201,980 shares of the biotechnology company’s stock worth $2,826,000 after buying an additional 66,177 shares during the last quarter. Institutional investors own 86.66% of the company’s stock.
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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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