GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

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

GlycoMimetics Trading Down 5.1 %

NASDAQ GLYC opened at $0.26 on Friday. The company’s 50 day simple moving average is $0.28 and its two-hundred day simple moving average is $0.24. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.50.

Institutional Investors Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC raised its holdings in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the period. Renaissance Technologies LLC owned approximately 1.28% of GlycoMimetics worth $233,000 at the end of the most recent reporting period. 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.