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

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

GlycoMimetics Trading Up 23.8 %

Shares of NASDAQ GLYC opened at $0.36 on Tuesday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.36. The firm’s 50 day simple moving average is $0.26 and its two-hundred day simple moving average is $0.24.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. VR Adviser LLC bought a new position in shares of GlycoMimetics in the fourth quarter worth approximately $747,000. Jefferies Financial Group Inc. bought a new position in shares of GlycoMimetics in the fourth quarter worth approximately $106,000. Caxton Corp bought a new position in shares of GlycoMimetics in the fourth quarter worth approximately $51,000. Adage Capital Partners GP L.L.C. bought a new position in shares of GlycoMimetics in the fourth quarter worth approximately $1,268,000. Finally, Wellington Management Group LLP bought a new position in shares of GlycoMimetics in the fourth quarter worth approximately $352,000. 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.