Does GlycoMimetics Inc. (GLYC) offer a good opportunity for investors?

GlycoMimetics Inc. (NASDAQ: GLYC) stock jumped 0.39% on Friday to $2.56 against a previous-day closing price of $2.55. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.64 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.7000 whereas the lowest price it dropped to was $2.5300. The 52-week range on GLYC shows that it touched its highest point at $3.30 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $8.00. Beta for the stock currently stands at 2.11.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GLYC was down-trending over the past week, with a drop of -11.11%, but this was up by 16.36% over a month. Three-month performance surged to 319.67% while six-month performance rose 244.83%. The stock gained 113.33% in the past year, while it has lost -15.51% so far this year. A look at the trailing 12-month EPS for GLYC yields -1.03 with Next year EPS estimates of -0.65. For the next quarter, that number is -0.21. This implies an EPS growth rate of -10.50% for this year and 28.60% for next year.

Float and Shares Shorts:

At present, 52.42 million GLYC shares are outstanding with a float of 51.08 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.48 million, which was 0.92% higher than short shares on Sep 14, 2022. In addition to Mr. Harout Semerjian as the firm’s CEO, Pres & Director, Mr. Brian M. Hahn serves as its Sr. VP & CFO.


Institutional Ownership:

Through their ownership of 54.54% of GLYC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.49% of GLYC, in contrast to 26.39% held by mutual funds. Shares owned by individuals account for 24.08%. As the largest shareholder in GLYC with 18.21% of the stake, BVF Partners LP holds 9,544,262 shares worth 9,544,262. A second-largest stockholder of GLYC, Acadian Asset Management LLC, holds 1,990,087 shares, controlling over 3.80% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GLYC, holding 1,865,100 shares or 3.56% stake. With a 2.68% stake in GLYC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,406,037 shares are owned by the mutual fund manager. The FCP Medical – BioHealth, which owns about 2.37% of GLYC stock, is the second-largest Mutual Fund holder. It holds 1,242,068 shares valued at 3.76 million. Vanguard Extended Market Index Fu holds 1.11% of the stake in GLYC, owning 583,568 shares worth 1.77 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GLYC since 3 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GLYC analysts setting a high price target of $13.00 and a low target of $3.00, the average target price over the next 12 months is $8.00. Based on these targets, GLYC could surge 407.81% to reach the target high and rise by 17.19% to reach the target low. Reaching the average price target will result in a growth of 212.5% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GLYC will report FY 2022 earnings on 02/29/2024. Analysts have provided yearly estimates in a range of -$0.86 being high and -$1.01 being low. For GLYC, this leads to a yearly average estimate of -$0.91. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. GlycoMimetics Inc. surprised analysts by $0.09 when it reported -$0.16 EPS against a consensus estimate of -$0.25. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.16 and the low estimate is -$0.31. The average estimate for the next quarter is thus -$0.21.

Summary of Insider Activity:

Insiders traded GLYC stock several times over the past three months with 9 Buys and 8 Sells. In these transactions, 445,945 shares were bought while 469,495 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 445,945 while 477,978 shares were sold.

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