GlycoMimetics, Inc. (NASDAQ:GLYC) Major Shareholder Sells $31,259.37 in Stock

GlycoMimetics, Inc. (NASDAQ:GLYC) major shareholder Public Equities L.P. Invus sold 164,523 shares of GlycoMimetics stock in a transaction on Monday, August 5th. The shares were sold at an average price of $0.19, for a total transaction of $31,259.37. Following the transaction, the insider now owns 6,695,658 shares in the company, valued at approximately $1,272,175.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Public Equities L.P. Invus also recently made the following trade(s):

• On Wednesday, August 7th, Public Equities L.P. Invus sold 61,488 shares of GlycoMimetics stock. The stock was sold at an average price of $0.18, for a total transaction of $11,067.84.
• On Thursday, August 1st, Public Equities L.P. Invus sold 63,564 shares of GlycoMimetics stock. The stock was sold at an average price of $0.22, for a total value of $13,984.08.
• On Monday, July 29th, Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics stock. The stock was sold at an average price of $0.24, for a total value of $87,347.76.
• On Friday, July 26th, Public Equities L.P. Invus sold 258,335 shares of GlycoMimetics stock. The shares were sold at an average price of $0.24, for a total transaction of $62,000.40.

GlycoMimetics Price Performance

Shares of GLYC stock traded down $0.01 during mid-day trading on Friday, hitting $0.18. The stock had a trading volume of 1,042,251 shares, compared to its average volume of 2,209,104. GlycoMimetics, Inc. has a 12-month low of $0.17 and a 12-month high of $3.53. The firm’s 50-day moving average is $0.26 and its two-hundred day moving average is $1.55. The firm has a market capitalization of $11.60 million, a P/E ratio of -0.31 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Analysts expect that GlycoMimetics, Inc. will post -0.61 EPS for the current year.

Hedge Funds Weigh In On GlycoMimetics

A number of large investors have recently bought and sold shares of GLYC. Advisor OS LLC purchased a new position in shares of GlycoMimetics in the 4th quarter worth approximately $238,000. Acadian Asset Management LLC increased its position in GlycoMimetics by 61.8% during the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 204,227 shares in the last quarter. Vanguard Group Inc. raised its stake in GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after buying an additional 340,112 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in GlycoMimetics by 483.5% in the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 685,151 shares during the last quarter. Institutional investors own 75.19% of the company’s stock.

Analysts Set New Price Targets

GLYC has been the topic of a number of recent analyst reports. HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. StockNews.com began coverage on GlycoMimetics in a report on Saturday. They set a “sell” rating for the company. Capital One Financial lowered GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 6th. Finally, TD Cowen lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a biotechnology company, focuses on the discovery and development of therapies for cancers and inflammatory diseases in the United States. It develops uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as completed phase 3 trial to treat relapsed/refractory AML.