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

by · The Cerbat Gem

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

Separately, TD Cowen cut shares of GlycoMimetics from a buy rating to a hold rating in a research note on Friday, July 26th.

Check Out Our Latest Research Report on GlycoMimetics

GlycoMimetics Stock Performance

Shares of NASDAQ GLYC opened at $0.15 on Friday. GlycoMimetics has a fifty-two week low of $0.15 and a fifty-two week high of $3.53. The company has a market cap of $9.85 million, a PE ratio of -0.26 and a beta of 2.06. The business has a 50-day simple moving average of $0.17 and a two-hundred day simple moving average of $0.67.

Insiders Place Their Bets

In other news, major shareholder Public Equities L.P. Invus sold 363,949 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $0.24, for a total value of $87,347.76. Following the transaction, the insider now directly owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 911,859 shares of company stock valued at $205,659. 8.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On GlycoMimetics

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in shares of GlycoMimetics by 483.5% in the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 685,151 shares during the period. Vanguard Group Inc. lifted its position in GlycoMimetics by 14.0% during the first 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. Finally, Acadian Asset Management LLC boosted its holdings in GlycoMimetics by 61.8% in the second 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 last quarter. 75.19% of the stock is owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

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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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