GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Saturday. The firm 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 report on Friday, July 26th.

GlycoMimetics Stock Performance

NASDAQ:GLYC opened at $0.16 on Friday. GlycoMimetics has a fifty-two week low of $0.15 and a fifty-two week high of $3.53. The company has a fifty day moving average of $0.17 and a two-hundred day moving average of $0.69. The stock has a market capitalization of $10.06 million, a PE ratio of -0.27 and a beta of 2.06.

Insiders Place Their Bets

In related news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $0.24, for a total transaction of $62,000.40. Following the completion of the sale, the insider now owns 8,330,729 shares of the company’s stock, valued at $1,999,374.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 911,859 shares of company stock valued at $205,659. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in 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 acquiring an additional 340,112 shares during the period. Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics by 61.8% during the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 204,227 shares during the period. Finally, Renaissance Technologies LLC lifted 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 during the period. Institutional investors 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.