GlycoMimetics (NASDAQ:GLYC) Coverage Initiated by Analysts at StockNews.com

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

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

GlycoMimetics Trading Down 9.3 %

Shares of GlycoMimetics stock opened at $0.29 on Friday. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.53. The firm’s 50-day moving average is $0.25 and its 200 day moving average is $0.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GLYC. Vanguard Group Inc. increased 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 worth $8,286,000 after buying an additional 340,112 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 685,151 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 204,227 shares during the period. 75.19% of the stock is owned by institutional investors.

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.