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

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note released on Tuesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Trading Up 11.8 %

Shares of GLYC stock opened at $0.24 on Tuesday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.53. The stock has a 50 day simple moving average of $0.30 and a two-hundred day simple moving average of $0.24.

Institutional Trading of GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC grew its position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,753 shares of the biotechnology company’s stock after acquiring an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned about 0.83% of GlycoMimetics worth $150,000 as of its most recent filing with the Securities & Exchange Commission. 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.