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

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

GlycoMimetics Price Performance

NASDAQ:GLYC opened at $0.26 on Wednesday. The business’s 50-day simple moving average is $0.31 and its two-hundred day simple moving average is $0.24. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53.

Hedge Funds Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC grew its position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the second quarter, according to its most recent filing with the SEC. The fund 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 about 0.83% of GlycoMimetics worth $150,000 at the end of the most recent reporting period. 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.