GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report issued on Saturday. The firm issued a sell rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the company. TD Cowen lowered GlycoMimetics from a buy rating to a hold rating in a research note on Friday, July 26th. Capital One Financial lowered GlycoMimetics from an overweight rating to an equal weight rating in a research note on Monday, May 6th. Finally, HC Wainwright reissued a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th.

GlycoMimetics Stock Performance

NASDAQ GLYC opened at $0.18 on Friday. The stock’s fifty day moving average is $0.26 and its two-hundred day moving average is $1.49. The firm has a market capitalization of $11.60 million, a P/E ratio of -0.31 and a beta of 2.19. GlycoMimetics has a fifty-two week low of $0.17 and a fifty-two week high of $3.53.

Insider Activity

In other GlycoMimetics news, insider Edwin Rock purchased 190,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $0.25 per share, with a total value of $47,500.00. Following the purchase, the insider now directly owns 565,403 shares in the company, valued at approximately $141,350.75. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Edwin Rock acquired 190,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $0.25 per share, for a total transaction of $47,500.00. Following the acquisition, the insider now owns 565,403 shares of the company’s stock, valued at $141,350.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 258,335 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $0.24, for a total value of $62,000.40. Following the completion of the sale, the insider now owns 8,330,729 shares in the company, valued at approximately $1,999,374.96. The disclosure for this sale can be found here. Insiders have sold a total of 911,859 shares of company stock valued at $205,659 in the last quarter. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

Several institutional investors and hedge funds have recently modified their holdings of GLYC. Renaissance Technologies LLC raised its holdings in shares of GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 685,151 shares during the period. Vanguard Group Inc. increased its holdings in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after purchasing an additional 340,112 shares during the period. Acadian Asset Management LLC increased its holdings in GlycoMimetics by 61.8% during the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 204,227 shares during the period. Finally, Advisor OS LLC purchased a new stake in GlycoMimetics during the 4th quarter worth about $238,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a biotechnology company, focuses on the discovery and development of therapies for cancers and inflammatory diseases in the United States. It develops uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as completed phase 3 trial to treat relapsed/refractory AML.