GlycoMimetics (NASDAQ:GLYC) Given New $13.00 Price Target at HC Wainwright

GlycoMimetics (NASDAQ:GLYCGet Rating) had its price target cut by investment analysts at HC Wainwright from $14.00 to $13.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com initiated coverage on shares of GlycoMimetics in a research note on Thursday, July 28th. They set a “hold” rating for the company.

GlycoMimetics Price Performance

Shares of GLYC opened at $0.90 on Thursday. The firm has a 50-day moving average of $0.65 and a 200-day moving average of $0.87. GlycoMimetics has a one year low of $0.51 and a one year high of $2.50.

Institutional Trading of GlycoMimetics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in shares of GlycoMimetics by 3.4% in the 4th quarter. Acadian Asset Management LLC now owns 1,951,086 shares of the biotechnology company’s stock valued at $2,808,000 after buying an additional 64,999 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of GlycoMimetics in the 4th quarter valued at approximately $210,000. Finally, Eversept Partners LP acquired a new position in shares of GlycoMimetics in the 4th quarter valued at approximately $144,000. Institutional investors and hedge funds own 56.64% of the company’s stock.

GlycoMimetics Company Profile

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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. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML.

Further Reading

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