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

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report report published on Friday. 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 report on Friday, July 26th.

GlycoMimetics Stock Down 9.3 %

GLYC opened at $0.29 on Friday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.53. The business has a 50 day simple moving average of $0.25 and a two-hundred day simple moving average of $0.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GLYC. Acadian Asset Management LLC raised 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 worth $150,000 after purchasing an additional 204,227 shares in the last quarter. Renaissance Technologies LLC increased 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 acquiring an additional 685,151 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in GlycoMimetics by 14.0% during the 1st 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. 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.