GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Stock Down 0.6 %

Shares of GlycoMimetics stock opened at $0.25 on Friday. The business has a 50-day simple moving average of $0.29 and a 200 day simple moving average of $0.24. GlycoMimetics has a one year low of $0.14 and a one year high of $3.53.

Hedge Funds Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC grew its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 826,851 shares of the biotechnology company’s stock after buying an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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.