GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

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

Separately, TD Cowen cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

GlycoMimetics Trading Down 0.1 %

NASDAQ GLYC opened at $0.16 on Monday. The company’s fifty day simple moving average is $0.17 and its 200-day simple moving average is $0.52. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53. The stock has a market cap of $10.21 million, a P/E ratio of -0.27 and a beta of 2.06.

Insider Transactions at GlycoMimetics

In other 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 shares were sold at an average price of $0.24, for a total transaction of $87,347.76. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 911,859 shares of company stock valued at $205,659. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of GlycoMimetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its stake in shares of GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after buying an additional 204,227 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of GlycoMimetics by 483.5% in the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after buying an additional 685,151 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of GlycoMimetics by 14.0% in 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 last quarter. 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.