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

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report sent to investors on Friday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, TD Cowen downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

GlycoMimetics Stock Performance

Shares of GlycoMimetics stock opened at $0.32 on Friday. The company’s fifty day simple moving average is $0.25 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 Investors Weigh In On GlycoMimetics

A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in shares of GlycoMimetics by 61.8% during the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 204,227 shares during the period. Renaissance Technologies LLC raised its stake in GlycoMimetics by 483.5% in the second 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. Finally, Vanguard Group Inc. lifted its position in GlycoMimetics by 14.0% during the first 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. 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.