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

Posted by ABMN Staff on Dec 24th, 2024

Equities researchers at StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC – Get Free Report) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Price Performance

GLYC stock opened at $0.22 on Tuesday. The stock has a 50-day moving average price of $0.30 and a 200-day moving average price of $0.24. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53.

Hedge Funds Weigh In On GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC increased its stake in GlycoMimetics, Inc. (NASDAQ:GLYC – Free Report) by 483.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 at the end of the most recent reporting period. Institutional investors own 75.19% of the company’s stock.

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.