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

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

Separately, TD Cowen cut shares of GlycoMimetics from a buy rating to a hold rating in a research report on Friday, July 26th.

GlycoMimetics Stock Up 4.0 %

Shares of GLYC stock opened at $0.15 on Friday. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53. The stock has a market capitalization of $9.68 million, a PE ratio of -0.26 and a beta of 2.06. The firm has a 50 day moving average of $0.17 and a two-hundred day moving average of $0.63.

Insider Transactions at GlycoMimetics

In other news, major shareholder Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics stock in a transaction on Monday, July 29th. The shares were sold at an average price of $0.24, for a total transaction of $87,347.76. Following the completion of the sale, the insider now directly owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 911,859 shares of company stock valued at $205,659. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in GlycoMimetics by 61.8% in the second 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 last quarter. Vanguard Group Inc. lifted its position in GlycoMimetics by 14.0% in the first 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 last quarter. Finally, Renaissance Technologies LLC lifted its position 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 acquiring an additional 685,151 shares during the last quarter. 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.