StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

Equities research analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Stock Down 2.6 %

Shares of GLYC opened at $0.28 on Thursday. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.53. The firm’s 50 day moving average is $0.31 and its 200-day moving average is $0.24.

Institutional Trading of GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 534,753 shares of the biotechnology company’s stock after buying an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned 0.83% of GlycoMimetics worth $150,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.