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

Analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Price Performance

Shares of GLYC opened at $0.24 on Tuesday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.53. The business’s 50 day simple moving average is $0.30 and its 200-day simple moving average is $0.24.

Institutional Trading of GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC increased its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,753 shares of the biotechnology company’s stock after buying an additional 204,227 shares during the period. Acadian Asset Management LLC owned 0.83% of GlycoMimetics worth $150,000 at the end of the most recent quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.