GlycoMimetics, Inc. (NASDAQ:GLYC – Get Free Report) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,870,000 shares, a growth of 30.5% from the February 13th total of 2,200,000 shares. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is presently 2.0 days. Approximately 4.9% of the shares of the stock are sold short.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. acquired a new position in shares of GlycoMimetics in the fourth quarter valued at approximately $1,268,000. VR Adviser LLC acquired a new position in GlycoMimetics in the 4th quarter valued at $747,000. Wellington Management Group LLP acquired a new position in GlycoMimetics in the 4th quarter valued at $352,000. Jefferies Financial Group Inc. purchased a new position in shares of GlycoMimetics during the 4th quarter worth $106,000. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the last quarter. 75.19% of the stock is currently owned by hedge funds and other institutional investors.
GlycoMimetics Trading Up 1.0 %
Shares of GLYC traded up $0.00 during mid-day trading on Tuesday, reaching $0.27. 149,071 shares of the company’s stock were exchanged, compared to its average volume of 6,751,795. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.18. The company has a 50-day simple moving average of $0.27 and a two-hundred day simple moving average of $0.26.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on GlycoMimetics in a research note on Friday. They set a “sell” rating for the company.
Get Our Latest Stock Analysis on GLYC
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.
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