GlycoMimetics, Inc. (NASDAQ:GLYC – Get Rating) major shareholder Scott D. Sandell sold 174,814 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $2.99, for a total value of $522,693.86. Following the completion of the transaction, the insider now directly owns 3,960,002 shares in the company, valued at approximately $11,840,405.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
GlycoMimetics Stock Performance
Shares of GLYC traded up $0.01 during midday trading on Wednesday, hitting $2.92. The stock had a trading volume of 872,783 shares, compared to its average volume of 1,176,991. The business has a 50-day simple moving average of $1.85 and a two-hundred day simple moving average of $1.10. GlycoMimetics, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $3.30.
GlycoMimetics (NASDAQ:GLYC – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The biotechnology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. On average, equities research analysts expect that GlycoMimetics, Inc. will post -0.91 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com began coverage on GlycoMimetics in a research report on Tuesday, December 27th. They set a “hold” rating on the stock.
Institutional Trading of GlycoMimetics
Several hedge funds and other institutional investors have recently modified their holdings of GLYC. Vanguard Group Inc. raised its position in GlycoMimetics by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,879,412 shares of the biotechnology company’s stock valued at $1,037,000 after buying an additional 32,650 shares during the period. Millennium Management LLC grew its stake in GlycoMimetics by 7.5% during the 2nd quarter. Millennium Management LLC now owns 434,655 shares of the biotechnology company’s stock valued at $260,000 after acquiring an additional 30,466 shares in the last quarter. Renaissance Technologies LLC grew its stake in GlycoMimetics by 20.4% during the 2nd quarter. Renaissance Technologies LLC now owns 566,400 shares of the biotechnology company’s stock valued at $339,000 after acquiring an additional 95,800 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics by 2.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,990,087 shares of the biotechnology company’s stock valued at $2,267,000 after purchasing an additional 39,001 shares during the period. Institutional investors and hedge funds own 49.50% of the company’s stock.
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. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML.