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

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued to investors on Thursday. The firm issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Performance

GLYC stock opened at $0.28 on Thursday. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53. The business has a 50 day simple moving average of $0.31 and a two-hundred day simple moving average of $0.24.

Institutional Trading of GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC grew its position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,753 shares of the biotechnology company’s stock after purchasing 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 reporting period. 75.19% of the stock is 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.