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 report published on Sunday morning. The firm issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Performance

GLYC stock opened at $0.29 on Friday. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.53. The company’s 50 day simple moving average is $0.28 and its 200-day simple moving average is $0.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLYC. Renaissance Technologies LLC increased its holdings 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 valued at $233,000 after purchasing an additional 685,151 shares during the period. Acadian Asset Management LLC increased its stake in 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. Finally, Vanguard Group Inc. lifted its position in GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares in the last quarter. 75.19% of the stock is owned by institutional investors and hedge funds.

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.