Redmile Group LLC lifted its stake in GlycoMimetics Inc (NASDAQ:GLYC) by 59.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,930,668 shares of the biotechnology company’s stock after buying an additional 716,580 shares during the period. GlycoMimetics makes up approximately 1.4% of Redmile Group LLC’s holdings, making the stock its 25th largest holding. Redmile Group LLC owned about 5.62% of GlycoMimetics worth $32,416,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased 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 during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of GlycoMimetics by 43.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 18,974 shares of the biotechnology company’s stock worth $265,000 after buying an additional 5,767 shares during the period. SG Americas Securities LLC purchased a new position in shares of GlycoMimetics in the fourth quarter worth about $103,000. Alyeska Investment Group L.P. increased its holdings in shares of GlycoMimetics by 2.6% in the third quarter. Alyeska Investment Group L.P. now owns 358,962 shares of the biotechnology company’s stock worth $5,022,000 after buying an additional 8,962 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of GlycoMimetics in the fourth quarter worth about $170,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Roth Capital set a $35.00 price objective on GlycoMimetics and gave the stock a “buy” rating in a report on Thursday, February 8th. BidaskClub upgraded GlycoMimetics from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Stifel Nicolaus lifted their price objective on GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. Finally, Jefferies Group reiterated a “buy” rating and issued a $21.00 price objective on shares of GlycoMimetics in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.00.
GlycoMimetics Inc (GLYC) opened at $17.79 on Friday. GlycoMimetics Inc has a twelve month low of $3.82 and a twelve month high of $26.05. The stock has a market capitalization of $610.87, a PE ratio of -15.47 and a beta of 3.23.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). analysts forecast that GlycoMimetics Inc will post -1.01 earnings per share for the current year.
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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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