GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report report published on Thursday. The firm issued a sell rating on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. TD Cowen lowered GlycoMimetics from a buy rating to a hold rating in a report on Friday, July 26th.

GlycoMimetics Stock Performance

GlycoMimetics stock opened at $0.17 on Thursday. GlycoMimetics has a fifty-two week low of $0.16 and a fifty-two week high of $3.53. The firm’s 50-day simple moving average is $0.20 and its 200 day simple moving average is $0.94. The stock has a market cap of $10.96 million, a PE ratio of -0.29 and a beta of 2.07.

Insiders Place Their Bets

In other news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $0.19, for a total transaction of $31,259.37. Following the completion of the transaction, the insider now directly owns 6,695,658 shares of the company’s stock, valued at approximately $1,272,175.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 911,859 shares of company stock valued at $205,659. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in 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 acquiring an additional 685,151 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 last quarter. Finally, Acadian Asset Management LLC boosted its position in GlycoMimetics by 61.8% during the second 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. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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.