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

Equities researchers at StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Monday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Stock Down 3.2 %

Shares of GlycoMimetics stock opened at $0.24 on Monday. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53. The business’s fifty day moving average price is $0.29 and its two-hundred day moving average price is $0.25.

Hedge Funds Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC lifted its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.