GlycoMimetics Inc (GLYC) SVP John L. Magnani Sells 25,000 Shares

GlycoMimetics Inc (NASDAQ:GLYC) SVP John L. Magnani sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $14.01, for a total value of $350,250.00. Following the completion of the transaction, the senior vice president now directly owns 86,593 shares in the company, valued at approximately $1,213,167.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ:GLYC traded up $0.29 during midday trading on Thursday, hitting $14.25. The stock had a trading volume of 191,600 shares, compared to its average volume of 564,789. GlycoMimetics Inc has a one year low of $10.25 and a one year high of $26.05. The stock has a market cap of $620.03 million, a P/E ratio of -12.35 and a beta of 3.23.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Friday, August 10th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.08. As a group, sell-side analysts anticipate that GlycoMimetics Inc will post -1.24 EPS for the current fiscal year.

Several research analysts recently issued reports on the company. ValuEngine cut GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. BidaskClub cut GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Cowen reissued a “buy” rating on shares of GlycoMimetics in a research note on Monday, August 13th. Finally, Zacks Investment Research raised GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. GlycoMimetics presently has a consensus rating of “Buy” and a consensus target price of $25.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in GLYC. BlackRock Inc. boosted its position in GlycoMimetics by 136.4% during the 2nd quarter. BlackRock Inc. now owns 2,803,151 shares of the biotechnology company’s stock valued at $45,214,000 after acquiring an additional 1,617,375 shares in the last quarter. NEA Management Company LLC boosted its position in GlycoMimetics by 5.9% during the 2nd quarter. NEA Management Company LLC now owns 9,089,041 shares of the biotechnology company’s stock valued at $146,606,000 after acquiring an additional 504,913 shares in the last quarter. OppenheimerFunds Inc. boosted its position in GlycoMimetics by 18.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,961,194 shares of the biotechnology company’s stock valued at $47,765,000 after acquiring an additional 456,269 shares in the last quarter. Northern Trust Corp boosted its position in GlycoMimetics by 392.4% during the 2nd quarter. Northern Trust Corp now owns 416,092 shares of the biotechnology company’s stock valued at $6,712,000 after acquiring an additional 331,581 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in GlycoMimetics by 25.4% during the 2nd quarter. Citadel Advisors LLC now owns 1,453,077 shares of the biotechnology company’s stock valued at $23,438,000 after acquiring an additional 294,224 shares in the last quarter.

About GlycoMimetics

GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.

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