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

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

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.24 on Tuesday. The company has a 50-day moving average price of $0.30 and a two-hundred day moving average price of $0.24. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.53.

Institutional Trading of GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC raised its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 534,753 shares of the biotechnology company’s stock after acquiring an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 as of its most recent filing with the SEC. 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.