StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

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

A number of other brokerages have also recently weighed in on GLYC. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a report on Tuesday, June 4th. TD Cowen downgraded shares of GlycoMimetics from a buy rating to a hold rating in a report on Friday, July 26th.

GlycoMimetics Stock Up 3.7 %

GLYC opened at $0.17 on Wednesday. The firm has a market cap of $10.96 million, a price-to-earnings ratio of -0.29 and a beta of 2.07. GlycoMimetics has a fifty-two week low of $0.16 and a fifty-two week high of $3.53. The company’s 50-day moving average price is $0.21 and its 200 day moving average price is $1.02.

Insider Buying and Selling at GlycoMimetics

In related news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 directly owns 6,695,658 shares of the company’s stock, valued at $1,272,175.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the stock in a transaction on Monday, August 5th. The shares were 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 owns 6,695,658 shares in the company, valued at $1,272,175.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edwin Rock bought 190,000 shares of GlycoMimetics stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of $0.25 per share, with a total value of $47,500.00. Following the acquisition, the insider now directly owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The disclosure for this purchase can be found here. Insiders have sold a total of 911,859 shares of company stock worth $205,659 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Advisor OS LLC acquired a new stake in GlycoMimetics in the fourth quarter valued at $238,000. Acadian Asset Management LLC lifted its stake in GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 204,227 shares during the last quarter. Renaissance Technologies LLC lifted 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 acquiring an additional 685,151 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after acquiring an additional 340,112 shares during the last quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.