GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Price Performance

Shares of NASDAQ GLYC opened at $0.29 on Friday. The business’s 50-day simple moving average is $0.28 and its 200-day simple moving average is $0.25. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 204,227 shares during the last quarter. Renaissance Technologies LLC grew its holdings in GlycoMimetics by 483.5% in 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 during the last quarter. Finally, Vanguard Group Inc. grew its holdings in GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after buying an additional 340,112 shares during the last quarter. Institutional investors and hedge funds 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.