Noteworthy Price Action: A Reversal for GlycoMimetics Inc Is Not Near. The Stock Rises Again

Noteworthy Price Action: A Reversal for GlycoMimetics Inc Is Not Near. The Stock Rises Again

The stock of GlycoMimetics Inc (NASDAQ:GLYC) is a huge mover today! The stock increased 6.40% or $0.43 during the last trading session, hitting $7.15. About 114,960 shares traded hands or 198.07% up from the average. GlycoMimetics Inc (NASDAQ:GLYC) has risen 41.77% since February 26, 2016 and is uptrending. It has outperformed by 31.35% the S&P500.
The move comes after 8 months positive chart setup for the $154.94 million company. It was reported on Sep, 30 by Barchart.com. We have $13.01 PT which if reached, will make NASDAQ:GLYC worth $127.05M more.

Analysts await GlycoMimetics Inc (NASDAQ:GLYC) to report earnings on November, 10. They expect $-0.44 earnings per share, down 15.79% or $0.06 from last year’s $-0.38 per share. After $-0.41 actual earnings per share reported by GlycoMimetics Inc for the previous quarter, Wall Street now forecasts 7.32% negative EPS growth.

GlycoMimetics Inc (NASDAQ:GLYC) Ratings Coverage

Out of 2 analysts covering GlycoMimetics (NASDAQ:GLYC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. GlycoMimetics has been the topic of 3 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Cowen & Co on Monday, August 15. The rating was upgraded by Zacks to “Hold” on Monday, August 10. As per Tuesday, July 26, the company rating was initiated by SunTrust.

According to Zacks Investment Research, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States.”

Insitutional Activity: The institutional sentiment increased to 6.17 in Q2 2016. Its up 5.26, from 0.91 in 2016Q1. The ratio is positive, as 2 funds sold all GlycoMimetics Inc shares owned while 4 reduced positions. 22 funds bought stakes while 15 increased positions. They now own 36.68 million shares or 164.88% more from 13.85 million shares in 2016Q1.
Blackrock Institutional Tru Na accumulated 63,079 shares or 0% of the stock. Renaissance Techs Lc reported 114,600 shares or 0% of all its holdings. Vanguard Gru Inc has invested 0% of its portfolio in GlycoMimetics Inc (NASDAQ:GLYC). Bvf Il holds 3.79% or 2.45 million shares in its portfolio. Teachers Advsrs, a New York-based fund reported 10,841 shares. California State Teachers Retirement Systems, a California-based fund reported 21,476 shares. Sphera Funds Mngmt Ltd last reported 718,080 shares in the company. Dafna Ltd Company last reported 0.16% of its portfolio in the stock. Trust Com Of Vermont has 110 shares for 0% of their US portfolio. State Street holds 0% or 103,127 shares in its portfolio. Blackrock Advsrs Ltd Liability Corp holds 0% or 2,718 shares in its portfolio. Deutsche Bank Ag has 93,702 shares for 0% of their US portfolio. Morgan Stanley last reported 457 shares in the company. Northern Tru last reported 108,879 shares in the company. Franklin Resources owns 1.01M shares or 0% of their US portfolio.

Insider Transactions: Since July 1, 2016, the stock had 0 insider purchases, and 2 sales for $169,954 net activity. 22,000 shares were sold by Thackray Helen M., worth $153,954.

More recent GlycoMimetics Inc (NASDAQ:GLYC) news were published by: Quotes.Wsj.com which released: “GlycoMimetics Inc. GLYC (US: Nasdaq)” on November 02, 2013. Also Businesswire.com published the news titled: “GlycoMimetics, Inc. Announces Initiation of First Clinical Trial Evaluating …” on October 29, 2015. Streetinsider.com‘s news article titled: “Form 8-K GLYCOMIMETICS INC For: Sep 20” with publication date: September 23, 2016 was also an interesting one.

GLYC Company Profile

GlycoMimetics, Inc., incorporated on April 4, 2003, is a clinical-stage biotechnology company. The Firm focuses on the discovery and development of glycomimetic drugs. The Firm operates through the identification and development of glycomimetic compounds segment. The Firm 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. The Firm is developing GMI-1271, a specific E-selectin inhibitor, to be used in combination with chemotherapy to treat patients with acute myeloid leukemia (AML), multiple myeloma (MM) and potentially other hematologic cancers. The Firm has an additional drug candidate, GMI-1359, that targets both E-selectin and a chemokine receptor, CXCR4. GMI-1359 is undergoing testing in preclinical models from which it intends to select a target clinical indication, in oncology. The Firm is also advancing other preclinical-stage programs, which include small-molecule glycomimetic compounds that inhibit the proteins galectin-3 and galectin-9, which have potential to be used for the treatment of fibrosis, cancer and cardiovascular disease.

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