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

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Wednesday morning. 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 research note on Friday, July 26th.

GlycoMimetics Stock Down 3.5 %

GlycoMimetics stock opened at $0.38 on Wednesday. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53. The firm’s 50 day simple moving average is $0.20 and its 200 day simple moving average is $0.34.

Institutional Trading of GlycoMimetics

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake 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 valued at $233,000 after purchasing an additional 685,151 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of GlycoMimetics by 61.8% in 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, Vanguard Group Inc. lifted its position in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after acquiring an additional 340,112 shares during the period. 75.19% of the stock is owned by institutional investors.

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.