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

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

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

GlycoMimetics Price Performance

GLYC stock opened at $0.32 on Friday. The stock’s fifty day simple moving average is $0.25 and its two-hundred day simple moving average is $0.24. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53.

Institutional Trading of GlycoMimetics

Several institutional investors have recently added to or reduced their stakes in GLYC. Acadian Asset Management LLC increased its holdings 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 buying an additional 204,227 shares during the period. Vanguard Group Inc. grew its position 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 acquiring an additional 340,112 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 685,151 shares during the period. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.