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

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report report published on Monday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Down 4.8 %

Shares of GLYC stock opened at $0.22 on Monday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.53. The company’s 50-day simple moving average is $0.29 and its 200-day simple moving average is $0.25.

Hedge Funds Weigh In On GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,753 shares of the biotechnology company’s stock after acquiring an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 at the end of the most recent quarter. Institutional investors 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.