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

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

Separately, TD Cowen cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

GlycoMimetics Stock Performance

Shares of NASDAQ:GLYC opened at $0.16 on Monday. The stock has a market capitalization of $10.21 million, a price-to-earnings ratio of -0.27 and a beta of 2.06. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53. The company’s fifty day moving average is $0.17 and its two-hundred day moving average is $0.52.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 363,949 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $0.24, for a total value of $87,347.76. Following the sale, the insider now owns 7,966,780 shares of the company’s stock, valued at $1,912,027.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 911,859 shares of company stock valued at $205,659 in the last quarter. Company insiders own 8.70% of the company’s stock.

Institutional Trading of GlycoMimetics

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after buying an additional 340,112 shares in the last quarter. Renaissance Technologies LLC grew its position in GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 685,151 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 204,227 shares in the last quarter. 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.