GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Update

GlycoMimetics, Inc. (NASDAQ:GLYC) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,870,000 shares, a growth of 30.5% from the February 13th total of 2,200,000 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 4.9% of the shares of the stock are sold short.

GlycoMimetics Price Performance

Shares of GLYC opened at $0.27 on Wednesday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.18. The business’s 50 day simple moving average is $0.27 and its 200-day simple moving average is $0.26.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. On average, sell-side analysts predict that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on GlycoMimetics in a report on Friday, March 14th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLYC. Wellington Management Group LLP acquired a new position in shares of GlycoMimetics in the 4th quarter worth approximately $352,000. ADAR1 Capital Management LLC raised its position in GlycoMimetics by 626.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in GlycoMimetics in the 4th quarter worth approximately $1,268,000. Caxton Corp bought a new position in GlycoMimetics in the 4th quarter worth approximately $51,000. Finally, Jefferies Financial Group Inc. bought a new position in GlycoMimetics in the 4th quarter worth approximately $106,000. 75.19% of the stock is 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.