GlycoMimetics (NASDAQ:GLYC) Downgraded by Capital One Financial to “Equal Weight”

Capital One Financial cut shares of GlycoMimetics (NASDAQ:GLYC) from an overweight rating to an equal weight rating in a report released on Monday, Zacks.com reports. Capital One Financial also issued estimates for GlycoMimetics’ Q1 2024 earnings at ($0.17) EPS, Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.15) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.62) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.67) EPS and FY2027 earnings at ($0.93) EPS.

A number of other brokerages also recently commented on GLYC. HC Wainwright reissued a neutral rating on shares of GlycoMimetics in a research report on Monday. StockNews.com lowered GlycoMimetics from a hold rating to a sell rating in a report on Thursday, March 14th.

GlycoMimetics Price Performance

GLYC opened at $0.30 on Monday. The firm has a market cap of $19.21 million, a P/E ratio of -0.51 and a beta of 2.30. GlycoMimetics has a 52 week low of $0.27 and a 52 week high of $3.53. The business has a fifty day simple moving average of $2.32 and a 200-day simple moving average of $2.30.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $0.01 million for the quarter. Sell-side analysts expect that GlycoMimetics will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On GlycoMimetics

Several hedge funds have recently modified their holdings of the stock. Advisor OS LLC acquired a new position in GlycoMimetics in the 4th quarter valued at $238,000. MJP Associates Inc. ADV purchased a new stake in shares of GlycoMimetics in the fourth quarter valued at about $238,000. Finally, Acuta Capital Partners LLC acquired a new position in shares of GlycoMimetics during the third quarter worth about $41,000. 75.19% of the stock is owned by institutional investors and hedge funds.

GlycoMimetics Company Profile

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.