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

Equities research analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the biotechnology company’s stock.

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

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.32 on Friday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.53. The firm’s 50-day simple moving average is $0.24 and its two-hundred day simple moving average is $0.24.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors have recently made changes to their positions in GLYC. Renaissance Technologies LLC grew its holdings in shares of GlycoMimetics by 483.5% during the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 685,151 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GlycoMimetics by 14.0% during the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after buying an additional 340,112 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of GlycoMimetics by 61.8% during the second 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 last quarter. Hedge funds and other 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.