Why GlycoMimetics Stock is Trading Higher Monday

GlycoMimetics, Inc. GLYC stock is moving higher Monday after its chief medical officer disclosed the purchase of company stock.

The Details: On Tuesday, the chief medical officer Edwin Rock disclosed in a Form4 that he bought 305,000 shares of the company.

Rock purchased the shares at an average price of 26 cents.

How To Buy GlycoMimetics Stock

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like GlycoMimetics‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. GlycoMimetics GLYC does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 21.91%, you'll need to buy a share of Simplify Exchange Traded Funds Simplify Propel Opportunities ETF by the Jun. 25, 2024. Once done, you can expect to receive a nominal payout of $1.25 on Jun. 28, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on GlycoMimetics will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

Related Link: 5 Biotech Stocks With Key Catalysts This Week: Merck, Intellia, Verona, And More

GLYC Price Action: At the time of publication, GlycoMimetics shares is trading 20% higher at 32 cents, according to data from Benzinga Pro.

Image: 8676549 from Pixabay.