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 Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

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

GlycoMimetics Price Performance

Shares of NASDAQ GLYC opened at $0.16 on Monday. The firm’s 50-day moving average price is $0.17 and its 200-day moving average price is $0.50. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.53. The company has a market cap of $10.31 million, a PE ratio of -0.28 and a beta of 2.06.

Insider Activity

In related 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 shares were sold at an average price of $0.24, for a total value of $87,347.76. Following the transaction, the insider now owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 911,859 shares of company stock valued at $205,659 in the last quarter. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GlycoMimetics

A number of institutional investors have recently bought and sold shares of GLYC. 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. Renaissance Technologies LLC lifted its position in shares of GlycoMimetics by 483.5% during the 2nd 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 in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of GlycoMimetics by 61.8% during the 2nd 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 during the period. 75.19% of the stock is 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.