StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

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

Several other brokerages also recently weighed in on GLYC. HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. TD Cowen downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

GlycoMimetics Stock Down 3.1 %

NASDAQ:GLYC opened at $0.16 on Thursday. The company has a market capitalization of $10.62 million, a PE ratio of -0.28 and a beta of 2.07. GlycoMimetics has a 52-week low of $0.16 and a 52-week high of $3.53. The stock has a fifty day simple moving average of $0.20 and a 200-day simple moving average of $0.92.

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics 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 completion of the sale, the insider now owns 7,966,780 shares in the company, valued at approximately $1,912,027.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 911,859 shares of company stock worth $205,659 in the last 90 days. 8.70% of the stock is owned by company insiders.

Institutional Trading of GlycoMimetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its holdings in GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 204,227 shares during the period. Vanguard Group Inc. grew its holdings 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 during the period. Finally, Renaissance Technologies LLC grew its holdings 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 purchasing an additional 685,151 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.