GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

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

GlycoMimetics Price Performance

Shares of GLYC stock opened at $0.15 on Friday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.53. The stock has a fifty day moving average price of $0.17 and a 200 day moving average price of $0.61. The stock has a market cap of $9.58 million, a P/E ratio of -0.26 and a beta of 2.06.

Insider Buying and Selling at GlycoMimetics

In other news, major shareholder Public Equities L.P. Invus sold 363,949 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $0.24, for a total value of $87,347.76. Following the sale, the insider now owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 911,859 shares of company stock valued at $205,659. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GlycoMimetics

A number of large investors have recently bought and sold shares of the business. 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 acquiring an additional 340,112 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of GlycoMimetics by 483.5% in the second 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 in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in GlycoMimetics by 61.8% during the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after buying an additional 204,227 shares in the last quarter. 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.