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

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

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

GlycoMimetics Trading Up 4.2 %

GlycoMimetics stock opened at $0.42 on Thursday. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53. The firm’s 50-day simple moving average is $0.23 and its 200 day simple moving average is $0.29.

Hedge Funds Weigh In On GlycoMimetics

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 period. Renaissance Technologies LLC increased its holdings in shares of GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 685,151 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 204,227 shares during the period. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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.