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

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

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.28 on Thursday. The business has a 50-day simple moving average of $0.31 and a two-hundred day simple moving average of $0.24. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53.

Institutional Investors Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC lifted its position in GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the period. Acadian Asset Management LLC owned about 0.83% of GlycoMimetics worth $150,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 75.19% of the stock is owned by institutional investors.

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.