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Senior VP & Chief Medical Officer of GlycoMimetics Edwin Rock Buys 81% More Shares

editorial-team@simplywallst.com (Simply Wall St)
·3-min read

Whilst it may not be a huge deal, we thought it was good to see that the GlycoMimetics, Inc. (NASDAQ:GLYC) Senior VP & Chief Medical Officer, Edwin Rock, recently bought US$79k worth of stock, for US$0.26 per share. While that isn't the hugest buy, it actually boosted their shareholding by 81%, which is good to see.

See our latest analysis for GlycoMimetics

The Last 12 Months Of Insider Transactions At GlycoMimetics

Notably, that recent purchase by Senior VP & Chief Medical Officer Edwin Rock was not the only time they bought GlycoMimetics shares this year. Earlier in the year, they paid US$1.38 per share in a US$90k purchase. That means that even when the share price was higher than US$0.33 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

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While GlycoMimetics insiders bought shares during the last year, they didn't sell. They paid about US$0.45 on average. These transactions suggest that insiders have considered the current price attractive. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

insider-trading-volume
insider-trading-volume

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.

Insider Ownership Of GlycoMimetics

Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Based on our data, GlycoMimetics insiders have about 3.1% of the stock, worth approximately US$537k. We consider this fairly low insider ownership.

So What Do The GlycoMimetics Insider Transactions Indicate?

It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that GlycoMimetics insiders are expecting a bright future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing GlycoMimetics. When we did our research, we found 6 warning signs for GlycoMimetics (4 make us uncomfortable!) that we believe deserve your full attention.

Of course GlycoMimetics may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com