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

Equities researchers at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report issued on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Stock Performance

GLYC stock opened at $0.27 on Friday. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.47. The company’s 50-day simple moving average is $0.27 and its 200 day simple moving average is $0.24.

Hedge Funds Weigh In On GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC grew its holdings in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 826,851 shares of the biotechnology company’s stock after purchasing an additional 685,151 shares during the period. Renaissance Technologies LLC owned approximately 1.28% of GlycoMimetics worth $233,000 as of its most recent SEC filing. 75.19% of the stock is 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.