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

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

GlycoMimetics Stock Down 6.0 %

GlycoMimetics stock opened at $0.38 on Tuesday. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.53. The firm has a market cap of $24.67 million, a PE ratio of -0.66 and a beta of 2.06. The company’s 50 day moving average is $0.18 and its two-hundred day moving average is $0.40.

Insider Transactions at GlycoMimetics

In related news, major shareholder Public Equities L.P. Invus sold 164,523 shares of GlycoMimetics stock in a transaction on Monday, August 5th. The shares were sold at an average price of $0.19, for a total transaction of $31,259.37. Following the transaction, the insider now owns 6,695,658 shares in the company, valued at approximately $1,272,175.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in GlycoMimetics by 14.0% in 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. Renaissance Technologies LLC lifted its position in shares of GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after buying an additional 685,151 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings 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 valued at $150,000 after buying an additional 204,227 shares during the period. 75.19% of the stock is currently owned by 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.