StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC – Free Report) 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.
Read Our Latest Report on GLYC
GlycoMimetics Price Performance
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.
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