GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Down 16.5% in August

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,930,000 shares, a decrease of 16.5% from the August 15th total of 2,310,000 shares. Based on an average daily trading volume, of 3,660,000 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GLYC. HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. TD Cowen lowered GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, StockNews.com started coverage on GlycoMimetics in a research note on Wednesday, September 11th. They issued a “sell” rating for the company.

GlycoMimetics Price Performance

Shares of NASDAQ GLYC opened at $0.17 on Monday. GlycoMimetics has a 1 year low of $0.16 and a 1 year high of $3.53. The firm has a 50-day moving average of $0.21 and a 200 day moving average of $0.99. The stock has a market cap of $10.96 million, a P/E ratio of -0.29 and a beta of 2.07.

Insider Transactions at GlycoMimetics

In other GlycoMimetics news, insider Edwin Rock purchased 190,000 shares of GlycoMimetics stock in a transaction on Thursday, June 20th. The shares were acquired at an average cost of $0.25 per share, for a total transaction of $47,500.00. Following the completion of the transaction, the insider now directly owns 565,403 shares of the company’s stock, valued at $141,350.75. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, insider Edwin Rock bought 190,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $0.25 per share, with a total value of $47,500.00. Following the completion of the purchase, the insider now directly owns 565,403 shares in the company, valued at $141,350.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Public Equities L.P. Invus sold 164,523 shares of the company’s stock in a transaction dated 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 directly owns 6,695,658 shares of the company’s stock, valued at $1,272,175.02. The disclosure for this sale can be found here. Insiders have sold 911,859 shares of company stock valued at $205,659 in the last quarter. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On GlycoMimetics

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake 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. 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 acquiring an additional 340,112 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 204,227 shares during the last quarter. Institutional investors own 75.19% of the company’s stock.

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.