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 released on Wednesday. The firm issued a sell rating on the biotechnology company’s stock.

Separately, TD Cowen downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

GlycoMimetics Trading Down 1.8 %

GlycoMimetics stock traded down $0.01 during midday trading on Wednesday, reaching $0.41. The company’s stock had a trading volume of 1,867,186 shares, compared to its average volume of 4,390,445. The stock has a market cap of $26.59 million, a PE ratio of -0.71 and a beta of 1.85. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53. The business has a 50-day moving average price of $0.21 and a 200-day moving average price of $0.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares during the period. Acadian Asset Management LLC lifted 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 worth $150,000 after purchasing an additional 204,227 shares during the period. Finally, Renaissance Technologies LLC boosted 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 valued at $233,000 after purchasing an additional 685,151 shares during the last quarter. 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.