GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a note issued to investors on Saturday. The firm set a “sell” rating on the biotechnology company’s stock.

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

GlycoMimetics Stock Performance

GlycoMimetics stock opened at $0.16 on Friday. The firm’s 50 day simple moving average is $0.18 and its 200 day simple moving average is $0.74. The firm has a market capitalization of $10.27 million, a PE ratio of -0.27 and a beta of 2.07. GlycoMimetics has a 1-year low of $0.15 and a 1-year high of $3.53.

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 363,949 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 911,859 shares of company stock valued at $205,659. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of GlycoMimetics

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 204,227 shares during the period. Renaissance Technologies LLC increased 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 worth $233,000 after buying an additional 685,151 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 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 buying an additional 340,112 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.