GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note published on Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, TD Cowen lowered GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

GlycoMimetics Price Performance

GlycoMimetics stock opened at $0.17 on Monday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.53. The company’s fifty day moving average price is $0.17 and its two-hundred day moving average price is $0.48. The company has a market capitalization of $11.20 million, a price-to-earnings ratio of -0.30 and a beta of 2.06.

Insider Buying and Selling

In other news, major shareholder Public Equities L.P. Invus sold 363,949 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $0.24, for a total value of $87,347.76. Following the sale, the insider now directly owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 653,524 shares of company stock valued at $143,659. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 204,227 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in 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 purchasing an additional 685,151 shares during the period. Finally, Vanguard Group Inc. grew its position in GlycoMimetics by 14.0% in 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 last quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

About GlycoMimetics

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.