GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

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

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

GlycoMimetics Stock Up 4.4 %

GLYC traded up $0.02 during trading on Thursday, hitting $0.42. 1,549,710 shares of the stock traded hands, compared to its average volume of 7,186,035. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53. The business has a 50 day moving average price of $0.22 and a 200 day moving average price of $0.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLYC. Renaissance Technologies LLC increased its holdings in shares of GlycoMimetics by 483.5% during the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after buying an additional 685,151 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of GlycoMimetics by 14.0% during the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics by 61.8% during the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after buying an additional 204,227 shares in the last quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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.