StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC – Free Report) in a research note published on Thursday. The firm issued a sell rating on the biotechnology company’s stock.
GLYC has been the topic of a number of other reports. HC Wainwright reissued a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. TD Cowen lowered shares of GlycoMimetics from a buy rating to a hold rating in a report on Friday, July 26th.
View Our Latest Stock Report on GLYC
GlycoMimetics Stock Performance
Insider Activity
In related news, major shareholder Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $0.24, for a total value of $87,347.76. Following the transaction, the insider now directly owns 7,966,780 shares of the company’s stock, valued at $1,912,027.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 911,859 shares of company stock valued at $205,659. Company insiders own 8.70% of the company’s stock.
Hedge Funds Weigh In On GlycoMimetics
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares during the period. Acadian Asset Management LLC grew its stake in GlycoMimetics by 61.8% during the second 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 during the period. Finally, Renaissance Technologies LLC increased its holdings in GlycoMimetics by 483.5% in 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. Institutional investors 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.
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