Renaissance Technologies LLC Boosts Position in GlycoMimetics, Inc. (NASDAQ:GLYC)

Renaissance Technologies LLC boosted its position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the quarter. Renaissance Technologies LLC’s holdings in GlycoMimetics were worth $233,000 at the end of the most recent reporting period.

Separately, Vanguard Group Inc. increased its position in 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 hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GLYC. TD Cowen cut GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. StockNews.com began coverage on GlycoMimetics in a research note on Sunday. They issued a “sell” rating for the company.

Insider Activity

In other 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 stock was sold at an average price of $0.24, for a total value of $87,347.76. Following the completion of the sale, the insider now directly owns 7,966,780 shares of the company’s stock, valued at $1,912,027.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 911,859 shares of company stock valued at $205,659 in the last ninety days. Insiders own 8.70% of the company’s stock.

GlycoMimetics Trading Up 4.0 %

Shares of GlycoMimetics stock opened at $0.15 on Friday. The stock has a 50 day moving average of $0.17 and a 200 day moving average of $0.63. GlycoMimetics, Inc. has a 12 month low of $0.14 and a 12 month high of $3.53. The firm has a market cap of $9.68 million, a PE ratio of -0.26 and a beta of 2.06.

GlycoMimetics 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.