GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Sunday morning. The firm issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Up 3.4 %

GLYC stock opened at $0.27 on Friday. The business has a 50 day moving average of $0.27 and a 200-day moving average of $0.24. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.38.

Institutional Investors Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC boosted its stake in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the period. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 as of its most recent filing with the SEC. 75.19% of the stock is currently owned by institutional investors.

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.