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

Research analysts at StockNews.com began 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.

GlycoMimetics Trading Down 2.6 %

NASDAQ GLYC opened at $0.28 on Thursday. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53. The firm has a 50-day simple moving average of $0.31 and a 200 day simple moving average of $0.24.

Hedge Funds Weigh In On GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC boosted its position in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the period. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 at the end of the most recent quarter. 75.19% of the stock is currently owned by institutional investors.

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.