GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

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

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

GlycoMimetics Price Performance

GLYC opened at $0.40 on Thursday. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.53. The stock has a 50-day moving average price of $0.22 and a 200-day moving average price of $0.29. The firm has a market cap of $25.92 million, a PE ratio of -0.69 and a beta of 1.85.

Institutional Trading of GlycoMimetics

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after acquiring an additional 340,112 shares during the period. Acadian Asset Management LLC lifted its stake in shares of GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 204,227 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 685,151 shares during the period. Institutional investors own 75.19% of the company’s stock.

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.