GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

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

GlycoMimetics Stock Down 4.3 %

Shares of GLYC stock opened at $0.27 on Thursday. The firm’s fifty day simple moving average is $0.31 and its 200 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 Inflows and Outflows

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC grew its stake in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 826,851 shares of the biotechnology company’s stock after buying an additional 685,151 shares during the period. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.