Renaissance Technologies LLC Buys 685,151 Shares of GlycoMimetics, Inc. (NASDAQ:GLYC)

Renaissance Technologies LLC boosted its stake in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 826,851 shares of the biotechnology company’s stock after purchasing an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned approximately 1.28% of GlycoMimetics worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Vanguard Group Inc. raised its holdings in shares of GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after buying an additional 340,112 shares in the last quarter. Institutional investors own 75.19% of the company’s stock.

GlycoMimetics Stock Performance

GLYC opened at $0.15 on Friday. GlycoMimetics, Inc. has a 52-week low of $0.14 and a 52-week high of $3.53. The stock has a market capitalization of $9.68 million, a PE ratio of -0.26 and a beta of 2.06. The stock’s 50 day moving average price is $0.17 and its 200-day moving average price is $0.63.

Insider Activity at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 363,949 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $0.24, for a total value of $87,347.76. Following the sale, the insider now directly owns 7,966,780 shares of the company’s stock, valued at approximately $1,912,027.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 911,859 shares of company stock worth $205,659 over the last ninety days. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLYC has been the topic of a number of research reports. StockNews.com initiated coverage on GlycoMimetics in a report on Sunday. They set a “sell” rating on the stock. TD Cowen cut GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

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.