Acadian Asset Management LLC Increases Stock Holdings in GlycoMimetics, Inc. (NASDAQ:GLYC)

Acadian Asset Management LLC increased its position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the period. Acadian Asset Management LLC owned 0.83% of GlycoMimetics worth $150,000 at the end of the most recent quarter.

Separately, Vanguard Group Inc. boosted its stake in GlycoMimetics by 14.0% during the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares during the period. 75.19% of the stock is owned by institutional investors.

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.16 on Friday. The company’s 50-day simple moving average is $0.20 and its 200-day simple moving average is $0.92. GlycoMimetics, Inc. has a 1 year low of $0.16 and a 1 year high of $3.53. The stock has a market capitalization of $10.62 million, a PE ratio of -0.28 and a beta of 2.07.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. Finally, StockNews.com began coverage on GlycoMimetics in a research report on Thursday. They set a “sell” rating for the company.

Insider Buying and Selling

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $0.24, for a total value of $62,000.40. Following the completion of the transaction, the insider now owns 8,330,729 shares of the company’s stock, valued at approximately $1,999,374.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 911,859 shares of company stock valued at $205,659 in the last ninety days. Company insiders own 8.70% of the company’s stock.

GlycoMimetics 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.