GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

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

GlycoMimetics Price Performance

Shares of NASDAQ:GLYC opened at $0.26 on Tuesday. The firm has a fifty day simple moving average of $0.30 and a two-hundred day simple moving average of $0.24. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53.

Institutional Investors Weigh In On GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC boosted its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 534,753 shares of the biotechnology company’s stock after buying 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 owned by hedge funds and other 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.