StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC – Get Rating) in a report released on Thursday. The firm issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright decreased their price target on GlycoMimetics from $13.00 to $8.00 and set a buy rating for the company in a research note on Wednesday, February 15th.

GlycoMimetics Stock Down 5.4 %

Shares of GLYC stock traded down $0.08 during mid-day trading on Thursday, hitting $1.40. The company’s stock had a trading volume of 377,894 shares, compared to its average volume of 1,003,089. GlycoMimetics has a 52-week low of $0.51 and a 52-week high of $4.16. The business has a 50-day moving average price of $2.39 and a 200 day moving average price of $1.72.

Insider Buying and Selling

In other news, major shareholder Public Equities L.P. Invus acquired 11,451 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was bought at an average price of $3.24 per share, with a total value of $37,101.24. Following the completion of the acquisition, the insider now directly owns 6,573,798 shares of the company’s stock, valued at approximately $21,299,105.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Edwin Rock acquired 110,000 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The stock was bought at an average price of $2.25 per share, with a total value of $247,500.00. Following the completion of the acquisition, the insider now directly owns 310,000 shares of the company’s stock, valued at approximately $697,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Public Equities L.P. Invus acquired 11,451 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was purchased at an average cost of $3.24 per share, with a total value of $37,101.24. Following the acquisition, the insider now directly owns 6,573,798 shares of the company’s stock, valued at $21,299,105.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,571,451 shares of company stock valued at $3,229,101 and sold 898,192 shares valued at $2,845,225. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of GlycoMimetics

Several large investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in GlycoMimetics during the fourth quarter valued at about $75,000. First Manhattan Co. bought a new stake in GlycoMimetics during the fourth quarter valued at about $952,000. Freedom Wealth Alliance LLC bought a new stake in GlycoMimetics during the fourth quarter valued at about $29,000. Marshall Wace LLP bought a new stake in GlycoMimetics during the fourth quarter valued at about $633,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in GlycoMimetics during the fourth quarter valued at about $68,000. Institutional investors own 49.50% of the company’s stock.

GlycoMimetics Company Profile

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GlycoMimetics, Inc engages in the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role. It develops proprietary glycomimetics that inhibit disease related functions of carbohydrates. The company was founded by Rachel K.