Candriam Luxembourg S.C.A. decreased its stake in GlycoMimetics Inc. (NASDAQ:GLYC) by 23.8% during the second quarter, Holdings Channel reports. The firm owned 160,000 shares of the company’s stock after selling 49,900 shares during the period. Candriam Luxembourg S.C.A.’s holdings in GlycoMimetics were worth $1,163,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of GLYC. Strs Ohio acquired a new stake in GlycoMimetics during the second quarter valued at about $115,000. Acadian Asset Management LLC raised its position in GlycoMimetics by 1,120.2% in the second quarter. Acadian Asset Management LLC now owns 25,307 shares of the company’s stock valued at $183,000 after buying an additional 23,233 shares in the last quarter. Renaissance Technologies LLC raised its position in GlycoMimetics by 13.6% in the first quarter. Renaissance Technologies LLC now owns 69,200 shares of the company’s stock valued at $412,000 after buying an additional 8,279 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in GlycoMimetics during the first quarter valued at approximately $2,014,000. Finally, Wellington Management Group LLP raised its position in GlycoMimetics by 1.7% in the first quarter. Wellington Management Group LLP now owns 2,669,015 shares of the company’s stock valued at $15,907,000 after buying an additional 43,652 shares in the last quarter. 80.28% of the stock is owned by institutional investors.
GlycoMimetics Inc. (NASDAQ:GLYC) traded down 1.06% on Thursday, reaching $6.52. The company had a trading volume of 28,511 shares. The stock’s 50-day moving average price is $7.29 and its 200 day moving average price is $7.18. The firm’s market capitalization is $150.33 million. GlycoMimetics Inc. has a 52-week low of $3.70 and a 52-week high of $9.25.
Several research analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and set a $12.00 price target on shares of GlycoMimetics in a research report on Sunday, August 7th. Stifel Nicolaus raised their price target on GlycoMimetics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research lowered GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. SunTrust Banks Inc. assumed coverage on GlycoMimetics in a research report on Tuesday, July 26th. They set a “buy” rating and a $16.00 price target for the company. Finally, Jefferies Group restated a “buy” rating on shares of GlycoMimetics in a research report on Friday, August 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. GlycoMimetics currently has a consensus rating of “Buy” and an average price target of $12.35.
In other GlycoMimetics news, VP Helen M. Thackray sold 4,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $7.00, for a total value of $28,000.00. Following the completion of the transaction, the vice president now directly owns 156,715 shares in the company, valued at approximately $1,097,005. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 52.50% of the stock is owned by company insiders.
GlycoMimetics Company Profile
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.