United Services Automobile Association cut its position in GlycoMimetics, Inc. (NASDAQ:GLYC) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,991 shares of the biotechnology company’s stock after selling 3,820 shares during the period. United Services Automobile Association owned approximately 0.30% of GlycoMimetics worth $375,000 at the end of the most recent reporting period.
Separately, Sphera Funds Management LTD. increased its position in shares of GlycoMimetics by 4.0% in the first quarter. Sphera Funds Management LTD. now owns 775,796 shares of the biotechnology company’s stock valued at $4,213,000 after buying an additional 30,000 shares during the period. 62.01% of the stock is owned by institutional investors and hedge funds.
Shares of GlycoMimetics, Inc. (NASDAQ GLYC) opened at 11.50 on Friday. GlycoMimetics, Inc. has a 52-week low of $3.82 and a 52-week high of $16.94. The company’s market capitalization is $283.36 million. The stock has a 50 day moving average price of $11.62 and a 200 day moving average price of $7.58.
GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Monday, May 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. On average, analysts predict that GlycoMimetics, Inc. will post ($1.41) earnings per share for the current fiscal year.
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Several equities analysts have commented on the company. Zacks Investment Research downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Thursday. Cowen and Company reiterated an “outperform” rating on shares of GlycoMimetics in a report on Sunday, May 28th. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 price target on shares of GlycoMimetics in a report on Tuesday, June 6th. Jefferies Group LLC lowered their price target on GlycoMimetics from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, June 6th. Finally, ValuEngine upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $12.40.
In related news, SVP Helen M. Thackray sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $15.57, for a total transaction of $31,140.00. Following the transaction, the senior vice president now directly owns 152,615 shares of the company’s stock, valued at approximately $2,376,215.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.80% of the stock is currently owned by insiders.
GlycoMimetics Company Profile
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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