GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

Several other research analysts have also recently issued reports on GLYC. Capital One Financial cut shares of GlycoMimetics from an “overweight” rating to an “equal weight” rating in a report on Monday, May 6th. HC Wainwright restated a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. Finally, 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 5.5 %

Shares of GLYC stock opened at $0.16 on Tuesday. The firm has a fifty day moving average price of $0.23 and a 200 day moving average price of $1.15. The company has a market cap of $10.37 million, a P/E ratio of -0.28 and a beta of 2.19. GlycoMimetics has a 12 month low of $0.16 and a 12 month high of $3.53.

Insider Activity at GlycoMimetics

In related news, insider Edwin Rock purchased 190,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average price of $0.25 per share, with a total value of $47,500.00. Following the completion of the purchase, the insider now directly owns 565,403 shares in the company, valued at approximately $141,350.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other GlycoMimetics news, insider Edwin Rock bought 190,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $0.25 per share, with a total value of $47,500.00. Following the purchase, the insider now owns 565,403 shares in the company, valued at approximately $141,350.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Public Equities L.P. Invus sold 363,949 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $0.24, for a total transaction of $87,347.76. Following the completion of the transaction, the insider now directly owns 7,966,780 shares in the company, valued at approximately $1,912,027.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 911,859 shares of company stock valued at $205,659. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

A number of large investors have recently added to or reduced their stakes in GLYC. Advisor OS LLC acquired a new stake in GlycoMimetics during the 4th quarter valued at $238,000. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 340,112 shares in the last quarter. Acadian Asset Management LLC grew its holdings in 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 acquiring an additional 204,227 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 685,151 shares in the last quarter. 75.19% of the stock is owned by institutional investors and hedge funds.

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.