GlycoMimetics (NASDAQ:GLYC) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the company. HC Wainwright restated a “neutral” rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. Capital One Financial cut GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th. Finally, TD Cowen cut GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

GlycoMimetics Stock Performance

NASDAQ:GLYC opened at $0.19 on Monday. The company has a market cap of $12.25 million, a PE ratio of -0.33 and a beta of 2.19. GlycoMimetics has a 52-week low of $0.17 and a 52-week high of $3.53. The stock has a 50-day simple moving average of $0.24 and a 200 day simple moving average of $1.30.

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $0.24, for a total value of $62,000.40. Following the sale, the insider now owns 8,330,729 shares in the company, valued at approximately $1,999,374.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Edwin Rock purchased 190,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $0.25 per share, with a total value of $47,500.00. Following the purchase, the insider now owns 565,403 shares in the company, valued at $141,350.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 258,335 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $0.24, for a total value of $62,000.40. Following the sale, the insider now directly owns 8,330,729 shares of the company’s stock, valued at $1,999,374.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 911,859 shares of company stock worth $205,659. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On GlycoMimetics

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings 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 valued at $150,000 after acquiring an additional 204,227 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 worth $233,000 after acquiring an additional 685,151 shares in the last quarter. Advisor OS LLC purchased a new stake in shares of GlycoMimetics during the fourth quarter worth $238,000. Finally, Vanguard Group Inc. raised its position 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 in the last quarter. 75.19% of the stock is owned by institutional investors.

GlycoMimetics Company Profile

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.