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

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

GlycoMimetics Price Performance

Shares of GLYC opened at $0.24 on Monday. The firm’s 50-day moving average price is $0.29 and its 200-day moving average price is $0.25. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC boosted its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the period. Acadian Asset Management LLC owned about 0.83% of GlycoMimetics worth $150,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.