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

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

GlycoMimetics Stock Performance

GLYC opened at $0.24 on Tuesday. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53. The business has a 50 day moving average price of $0.30 and a 200 day moving average price of $0.24.

Hedge Funds Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC lifted its position in GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 534,753 shares of the biotechnology company’s stock after acquiring an additional 204,227 shares during the period. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 at the end of the most recent quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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.