GlycoMimetics Inc. (NASDAQ: GLYC) stock fell -5.76% on Wednesday to $1.80 against a previous-day closing price of $1.91. With 0.51 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.42 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.9150 whereas the lowest price it dropped to was $1.7715. The 52-week range on GLYC shows that it touched its highest point at $4.16 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $5.50. Beta for the stock currently stands at 2.05.
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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 -11.76%, but this was up by 31.39% over a month. Three-month performance surged to 5.26% while six-month performance fell -11.33%. The stock gained 192.45% in the past year, while it has lost -40.59% so far this year. A look at the trailing 12-month EPS for GLYC yields -0.78 with Next year EPS estimates of -0.76. For the next quarter, that number is -0.18. This implies an EPS growth rate of 27.90% for this year and -2.70% for next year.
Float and Shares Shorts:
At present, 60.35 million GLYC shares are outstanding with a float of 51.08 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.35 million, which was 2.10% higher than short shares on Mar 30, 2023. In addition to Mr. Harout Semerjian as the firm’s CEO, Pres & Director, Ms. Rachel K. King serves as its Co-Founder & Director.
Through their ownership of 54.46% of GLYC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.87% of GLYC, in contrast to 45.12% held by mutual funds. Shares owned by individuals account for 27.96%. As the largest shareholder in GLYC with 14.86% of the stake, BVF Partners LP holds 9,544,262 shares worth 9,544,262. A second-largest stockholder of GLYC, Invus Public Equities Advisors LL, holds 8,589,064 shares, controlling over 13.37% of the firm’s shares. Octagon Capital Advisors LP is the third largest shareholder in GLYC, holding 3,000,000 shares or 4.67% stake. With a 2.46% stake in GLYC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,580,937 shares are owned by the mutual fund manager. The FCP Medical – BioHealth, which owns about 1.93% of GLYC stock, is the second-largest Mutual Fund holder. It holds 1,242,068 shares valued at 1.74 million. Vanguard Extended Market Index Fu holds 0.97% of the stake in GLYC, owning 624,423 shares worth 0.87 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GLYC reported revenue of $75.00k and operating income of -$13.35M. The EBITDA in the recently reported quarter was -$13.30M and diluted EPS was -$0.25.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GLYC since 0 analysts follow the stock currently. 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 $8.00 and a low target of $3.00, the average target price over the next 12 months is $5.50. Based on these targets, GLYC could surge 344.44% to reach the target high and rise by 66.67% to reach the target low. Reaching the average price target will result in a growth of 205.56% 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.
Summary of Insider Activity:
Insiders traded GLYC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 2,490,662 while 4,121,511 shares were sold.