GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

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

Separately, TD Cowen downgraded shares of GlycoMimetics from a buy rating to a hold rating in a research note on Friday, July 26th.

GlycoMimetics Price Performance

Shares of GlycoMimetics stock opened at $0.15 on Friday. The stock has a market cap of $9.82 million, a price-to-earnings ratio of -0.26 and a beta of 2.06. The firm’s 50-day moving average is $0.17 and its two-hundred day moving average is $0.57. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.53.

Insiders Place Their Bets

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 164,523 shares of GlycoMimetics stock in a transaction on Monday, August 5th. The shares were sold at an average price of $0.19, for a total value of $31,259.37. Following the transaction, the insider now directly owns 6,695,658 shares of the company’s stock, valued at approximately $1,272,175.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 911,859 shares of company stock worth $205,659. 8.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GlycoMimetics

Several hedge funds have recently modified their holdings of GLYC. Acadian Asset Management LLC increased its position in shares of GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 204,227 shares during the period. Renaissance Technologies LLC grew its stake in GlycoMimetics by 483.5% during the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 685,151 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake 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 purchasing an additional 340,112 shares during the last quarter. Institutional investors and hedge funds 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.