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

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

Separately, TD Cowen lowered GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

GlycoMimetics Trading Up 191.3 %

NASDAQ GLYC opened at $0.49 on Tuesday. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53. The stock has a 50-day moving average of $0.17 and a 200-day moving average of $0.41. The firm has a market cap of $31.59 million, a PE ratio of -0.84 and a beta of 2.06.

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $0.19, for a total transaction of $31,259.37. Following the completion of the transaction, the insider now owns 6,695,658 shares of the company’s stock, valued at $1,272,175.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 289,575 shares of company stock valued at $56,311 in the last 90 days. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in 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 purchasing an additional 204,227 shares during the last quarter. Vanguard Group Inc. raised its position in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after purchasing an additional 340,112 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of GlycoMimetics by 483.5% in the 2nd 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. Institutional investors own 75.19% of the company’s stock.

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.