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

Analysts at StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Trading Up 2.2 %

GLYC opened at $0.29 on Tuesday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.36. The business’s fifty day moving average is $0.26 and its two-hundred day moving average is $0.24.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05.

Institutional Investors Weigh In On GlycoMimetics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caxton Corp acquired a new position in shares of GlycoMimetics in the fourth quarter worth $51,000. ADAR1 Capital Management LLC boosted its stake in shares of GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 286,127 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in GlycoMimetics during the 4th quarter worth about $106,000. Wellington Management Group LLP acquired a new position in GlycoMimetics in the 4th quarter valued at about $352,000. Finally, VR Adviser LLC purchased a new position in GlycoMimetics in the 4th quarter valued at about $747,000. Hedge funds and other 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.