Several other analysts also recently commented on the company. Jefferies Financial Group downgraded GlycoMimetics from a buy rating to a hold rating in a research note on Monday, August 5th. Zacks Investment Research upgraded GlycoMimetics from a sell rating to a buy rating and set a $5.00 target price for the company in a research note on Wednesday, October 9th. SunTrust Banks downgraded GlycoMimetics from a buy rating to a hold rating and reduced their target price for the company from $23.00 to $5.00 in a research note on Monday, August 5th. HC Wainwright reduced their target price on GlycoMimetics from $23.00 to $18.00 and set a buy rating for the company in a research note on Monday, August 5th. Finally, Piper Jaffray Companies downgraded GlycoMimetics from an overweight rating to a neutral rating and reduced their target price for the company from $20.00 to $6.00 in a research note on Sunday, August 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. GlycoMimetics currently has a consensus rating of Hold and an average price target of $8.25.
Shares of GLYC traded up $0.28 during trading hours on Wednesday, reaching $6.24. The stock had a trading volume of 283,200 shares, compared to its average volume of 444,051. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.54 and a current ratio of 17.54. The company’s 50-day moving average is $4.82 and its two-hundred day moving average is $8.09. The stock has a market capitalization of $252.25 million, a PE ratio of -5.29 and a beta of 2.74. GlycoMimetics has a 12 month low of $2.64 and a 12 month high of $14.22.
In other GlycoMimetics news, major shareholder Bvf Partners L. P/Il purchased 1,668,746 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of $3.18 per share, with a total value of $5,306,612.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel M. Junius purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $3.18 per share, for a total transaction of $31,800.00. Following the transaction, the director now owns 18,000 shares in the company, valued at approximately $57,240. The disclosure for this purchase can be found here. 26.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank lifted its position in GlycoMimetics by 2.1% in the 2nd quarter. Swiss National Bank now owns 64,200 shares of the biotechnology company’s stock valued at $765,000 after acquiring an additional 1,300 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in GlycoMimetics by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 81,784 shares of the biotechnology company’s stock valued at $975,000 after acquiring an additional 3,157 shares in the last quarter. Aperio Group LLC bought a new position in shares of GlycoMimetics during the 2nd quarter worth approximately $49,000. AXA lifted its position in shares of GlycoMimetics by 0.6% during the 2nd quarter. AXA now owns 930,551 shares of the biotechnology company’s stock worth $11,092,000 after buying an additional 5,407 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of GlycoMimetics by 1.8% during the 2nd quarter. Northern Trust Corp now owns 467,600 shares of the biotechnology company’s stock worth $5,574,000 after buying an additional 8,240 shares in 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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