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

Equities researchers at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Thursday. The firm set a “sell” rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. TD Cowen lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

GlycoMimetics Trading Down 3.1 %

Shares of GLYC opened at $0.16 on Thursday. The firm has a market cap of $10.62 million, a PE ratio of -0.28 and a beta of 2.07. The company’s 50 day simple moving average is $0.20 and its 200-day simple moving average is $0.92. GlycoMimetics has a 12-month low of $0.16 and a 12-month high of $3.53.

Insiders Place Their Bets

In other GlycoMimetics news, 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 transaction of $62,000.40. Following the sale, the insider now directly owns 8,330,729 shares in the company, valued at approximately $1,999,374.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 911,859 shares of company stock worth $205,659. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

Several institutional investors have recently made changes to their positions in GLYC. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Acadian Asset Management LLC raised its stake in shares of 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 buying an additional 204,227 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of GlycoMimetics by 483.5% during the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after buying an additional 685,151 shares during the last quarter. 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.