Asymmetry Capital Management L.P. Takes $1.71 Million Position in GlycoMimetics Inc (NASDAQ:GLYC)

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Asymmetry Capital Management L.P. acquired a new stake in GlycoMimetics Inc (NASDAQ:GLYC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 136,990 shares of the biotechnology company’s stock, valued at approximately $1,707,000. GlycoMimetics comprises approximately 2.9% of Asymmetry Capital Management L.P.’s investment portfolio, making the stock its 12th biggest holding. Asymmetry Capital Management L.P. owned approximately 0.32% of GlycoMimetics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GLYC. Dimensional Fund Advisors LP acquired a new stake in shares of GlycoMimetics during the third quarter worth $5,598,000. Hudson Bay Capital Management LP grew its stake in GlycoMimetics by 105.9% in the fourth quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock valued at $3,315,000 after acquiring an additional 180,000 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in GlycoMimetics in the first quarter valued at about $915,000. Squarepoint Ops LLC grew its stake in GlycoMimetics by 259.3% in the fourth quarter. Squarepoint Ops LLC now owns 84,115 shares of the biotechnology company’s stock valued at $797,000 after acquiring an additional 60,701 shares during the period. Finally, Geode Capital Management LLC grew its stake in GlycoMimetics by 16.2% in the fourth quarter. Geode Capital Management LLC now owns 412,003 shares of the biotechnology company’s stock valued at $3,901,000 after acquiring an additional 57,392 shares during the period.

A number of research analysts have issued reports on the company. BidaskClub cut GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a research report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of GlycoMimetics in a research report on Friday, April 12th. Finally, Piper Jaffray Companies initiated coverage on GlycoMimetics in a research note on Friday, April 12th. They set an “overweight” rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. GlycoMimetics has an average rating of “Buy” and a consensus target price of $23.00.

NASDAQ:GLYC traded up $0.13 during trading hours on Tuesday, reaching $10.73. 418,010 shares of the company were exchanged, compared to its average volume of 221,231. The company has a market capitalization of $504.79 million, a P/E ratio of -9.09 and a beta of 2.64. GlycoMimetics Inc has a 1-year low of $8.29 and a 1-year high of $18.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 23.88 and a quick ratio of 23.88.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.33) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.01. On average, sell-side analysts anticipate that GlycoMimetics Inc will post -1.18 EPS 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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