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

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued to investors on Wednesday. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Up 0.1 %

GlycoMimetics stock opened at $0.25 on Wednesday. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.53. The company has a fifty day moving average price of $0.31 and a two-hundred day moving average price of $0.24.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC boosted its holdings in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned approximately 1.28% of GlycoMimetics worth $233,000 at the end of the most recent reporting period. 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.