Artal Group S.A. raised its position in shares of GlycoMimetics Inc (NASDAQ:GLYC) by 23.5% during the 4th quarter, HoldingsChannel reports. The firm owned 250,000 shares of the biotechnology company’s stock after purchasing an additional 47,500 shares during the period. Artal Group S.A.’s holdings in GlycoMimetics were worth $4,198,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in GlycoMimetics during the fourth quarter valued at approximately $103,000. First Mercantile Trust Co. lifted its holdings in shares of GlycoMimetics by 26.6% in the fourth quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after buying an additional 2,466 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of GlycoMimetics in the third quarter worth $173,000. Virtu Financial LLC purchased a new position in shares of GlycoMimetics in the fourth quarter worth $210,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of GlycoMimetics in the second quarter worth $146,000. 86.80% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Helen M. Thackray sold 2,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $15.01, for a total value of $30,020.00. Following the sale, the senior vice president now owns 148,615 shares in the company, valued at $2,230,711.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 43.80% of the company’s stock.
GLYC has been the topic of several research analyst reports. Roth Capital initiated coverage on shares of GlycoMimetics in a report on Monday, October 23rd. They issued a “buy” rating and a $25.00 target price on the stock. Jefferies Group reissued a “buy” rating and issued a $16.00 target price on shares of GlycoMimetics in a report on Thursday, October 26th. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Monday, November 13th. BidaskClub raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Cowen reissued a “buy” rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.67.
Shares of GlycoMimetics Inc (NASDAQ GLYC) opened at $25.01 on Friday. GlycoMimetics Inc has a 1 year low of $3.82 and a 1 year high of $26.05. The firm has a market cap of $847.27, a price-to-earnings ratio of -20.17 and a beta of 3.40.
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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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