GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

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

A number of other research firms also recently issued reports on GLYC. Capital One Financial downgraded GlycoMimetics from an overweight rating to an equal weight rating in a research note on Monday, May 6th. TD Cowen downgraded GlycoMimetics from a buy rating to a hold rating in a research note on Friday, July 26th. Finally, HC Wainwright reaffirmed a neutral rating on shares of GlycoMimetics in a research report on Tuesday, June 4th.

GlycoMimetics Trading Down 5.6 %

Shares of GLYC stock opened at $0.17 on Monday. GlycoMimetics has a 12-month low of $0.16 and a 12-month high of $3.53. The stock has a market capitalization of $10.96 million, a P/E ratio of -0.29 and a beta of 2.19. The firm’s 50 day moving average is $0.24 and its 200 day moving average is $1.25.

Insider Buying and Selling

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $0.19, for a total transaction of $31,259.37. Following the completion of the sale, the insider now owns 6,695,658 shares of the company’s stock, valued at $1,272,175.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Edwin Rock acquired 190,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $0.25 per share, for a total transaction of $47,500.00. Following the transaction, the insider now directly owns 565,403 shares of the company’s stock, valued at $141,350.75. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Public Equities L.P. Invus sold 164,523 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $0.19, for a total transaction of $31,259.37. Following the completion of the transaction, the insider now directly owns 6,695,658 shares of the company’s stock, valued at approximately $1,272,175.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 911,859 shares of company stock valued at $205,659. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors and hedge funds have recently bought and sold shares of GLYC. Renaissance Technologies LLC grew its position 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 purchasing an additional 685,151 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 204,227 shares in the last quarter. Vanguard Group Inc. boosted its stake in GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after purchasing an additional 340,112 shares during the period. Finally, Advisor OS LLC bought a new position in GlycoMimetics in the 4th quarter worth approximately $238,000. 75.19% of the stock is 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.