Redmile Group LLC Has $25.15 Million Position in GlycoMimetics Inc (NASDAQ:GLYC)

Redmile Group LLC increased its stake in GlycoMimetics Inc (NASDAQ:GLYC) by 2.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,018,247 shares of the biotechnology company’s stock after purchasing an additional 39,700 shares during the quarter. Redmile Group LLC’s holdings in GlycoMimetics were worth $25,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GLYC. BNP Paribas Arbitrage SA purchased a new stake in GlycoMimetics in the 1st quarter valued at about $88,000. JGP Global Gestao de Recursos Ltda. purchased a new stake in GlycoMimetics in the 1st quarter valued at about $126,000. Metropolitan Life Insurance Co. NY increased its stake in GlycoMimetics by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,748 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 9,175 shares during the last quarter. Jane Street Group LLC purchased a new stake in GlycoMimetics in the 4th quarter valued at about $114,000. Finally, DekaBank Deutsche Girozentrale increased its stake in GlycoMimetics by 22.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,400 shares of the biotechnology company’s stock valued at $200,000 after buying an additional 2,500 shares during the last quarter.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. BidaskClub upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. Piper Jaffray Companies assumed coverage on shares of GlycoMimetics in a research note on Friday, April 12th. They set an “overweight” rating and a $20.00 price target for the company. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of GlycoMimetics in a research note on Friday, April 12th. Finally, Cowen restated a “buy” rating on shares of GlycoMimetics in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.

Shares of GLYC stock opened at $11.19 on Monday. The company has a market cap of $483.20 million, a PE ratio of -9.48 and a beta of 2.64. GlycoMimetics Inc has a 12-month low of $8.29 and a 12-month high of $17.78. The company has a quick ratio of 23.88, a current ratio of 23.88 and a debt-to-equity ratio of 0.02.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.01. Equities analysts forecast that GlycoMimetics Inc will post -1.18 earnings per share for the current fiscal year.

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GlycoMimetics Profile

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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.

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Institutional Ownership by Quarter for GlycoMimetics (NASDAQ:GLYC)

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