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

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Thursday. The brokerage 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 note on Friday, July 26th.

GlycoMimetics Trading Up 4.2 %

NASDAQ:GLYC opened at $0.42 on Thursday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.53. The stock has a fifty day moving average price of $0.23 and a 200-day moving average price of $0.27.

Hedge Funds Weigh In On GlycoMimetics

A number of institutional investors have recently modified their holdings of GLYC. Renaissance Technologies LLC boosted its stake in GlycoMimetics by 483.5% in the second 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. Acadian Asset Management LLC lifted its holdings in shares of GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 204,227 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 340,112 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.