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

Analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

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

GlycoMimetics Trading Down 3.0 %

GLYC opened at $0.32 on Friday. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53. The firm’s 50 day simple moving average is $0.24 and its two-hundred day simple moving average is $0.24.

Institutional Trading of GlycoMimetics

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after purchasing an additional 340,112 shares during the period. Renaissance Technologies LLC raised its position 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 purchasing an additional 685,151 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of GlycoMimetics by 61.8% during the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 204,227 shares during the period. 75.19% of the stock is currently 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.