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

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

GlycoMimetics Stock Performance

Shares of GlycoMimetics stock opened at $0.26 on Wednesday. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53. The company’s 50 day moving average is $0.31 and its 200 day moving average is $0.24.

Institutional Trading of GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC grew its stake in GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,753 shares of the biotechnology company’s stock after buying an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 as of its most recent SEC filing. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.