HC Wainwright Comments on GlycoMimetics, Inc.’s Q1 2024 Earnings (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for GlycoMimetics in a report issued on Wednesday, March 27th. HC Wainwright analyst E. White forecasts that the biotechnology company will post earnings of ($0.14) per share for the quarter. HC Wainwright has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.56) per share. HC Wainwright also issued estimates for GlycoMimetics’ Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.57) EPS and FY2025 earnings at ($0.15) EPS.

Several other equities analysts have also recently issued reports on GLYC. Capital One Financial reaffirmed an “overweight” rating on shares of GlycoMimetics in a report on Thursday, February 22nd. StockNews.com downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.

GlycoMimetics Stock Performance

Shares of GLYC stock opened at $3.00 on Friday. The stock has a fifty day moving average price of $3.00 and a 200 day moving average price of $2.18. The stock has a market cap of $193.35 million, a PE ratio of -5.17 and a beta of 2.19. GlycoMimetics has a 1 year low of $1.11 and a 1 year high of $3.53.

Institutional Investors Weigh In On GlycoMimetics

A number of hedge funds and other institutional investors have recently made changes to their positions in GLYC. Renaissance Technologies LLC grew its position in GlycoMimetics by 20.4% during the second 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 during the period. Millennium Management LLC grew its position in GlycoMimetics by 7.5% during the second 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 during the period. Vanguard Group Inc. grew 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 acquiring an additional 32,650 shares during the period. Dimensional Fund Advisors LP purchased a new stake in GlycoMimetics during the fourth quarter valued at about $225,000. Finally, Geode Capital Management LLC grew its position in GlycoMimetics by 13.1% during the fourth quarter. Geode Capital Management LLC now owns 405,335 shares of the biotechnology company’s stock valued at $1,228,000 after acquiring an additional 46,940 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.