GlycoMimetics, Inc. (NASDAQ:GLYC) Sees Significant Increase in Short Interest

GlycoMimetics, Inc. (NASDAQ:GLYCGet Free Report) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,870,000 shares, a growth of 30.5% from the February 13th total of 2,200,000 shares. Currently, 4.9% of the company’s stock are short sold. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of GlycoMimetics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in GlycoMimetics during the fourth quarter worth about $106,000. VR Adviser LLC purchased a new stake in GlycoMimetics during the fourth quarter worth about $747,000. Caxton Corp purchased a new stake in GlycoMimetics during the fourth quarter worth about $51,000. Adage Capital Partners GP L.L.C. purchased a new stake in GlycoMimetics during the fourth quarter worth about $1,268,000. Finally, ADAR1 Capital Management LLC boosted its holdings in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after buying an additional 286,127 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of GlycoMimetics in a research note on Friday. They set a “sell” rating on the stock.

Get Our Latest Research Report on GlycoMimetics

GlycoMimetics Trading Up 3.5 %

GlycoMimetics stock traded up $0.01 during midday trading on Monday, hitting $0.27. 147,685 shares of the company’s stock were exchanged, compared to its average volume of 1,641,770. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.18. The firm’s 50 day simple moving average is $0.27 and its 200 day simple moving average is $0.25.

GlycoMimetics (NASDAQ:GLYCGet Free Report) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.05. Analysts forecast that GlycoMimetics will post -0.08 earnings per share for the current year.

About GlycoMimetics

(Get Free Report)

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.

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