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

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Wednesday. The firm issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Up 8.5 %

Shares of GLYC opened at $0.28 on Wednesday. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53. The firm’s 50 day moving average price is $0.32 and its 200 day moving average price is $0.24.

Institutional Investors Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC boosted its holdings in GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 534,753 shares of the biotechnology company’s stock after buying an additional 204,227 shares during the period. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 as of its most recent SEC filing. 75.19% of the stock is owned by hedge funds and other institutional investors.

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.