GlycoMimetics, Inc. (NASDAQ:GLYC) Sees Significant Drop in Short Interest

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,030,000 shares, a drop of 9.4% from the January 15th total of 2,240,000 shares. Based on an average daily trading volume, of 890,600 shares, the short-interest ratio is presently 2.3 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of GlycoMimetics in a research report on Monday, February 10th. They set a “sell” rating for the company.

GlycoMimetics Trading Up 2.2 %

Shares of GLYC stock traded up $0.01 during trading hours on Monday, hitting $0.29. The stock had a trading volume of 11,445,735 shares, compared to its average volume of 232,824. GlycoMimetics has a one year low of $0.14 and a one year high of $3.36. The stock’s 50-day moving average price is $0.26 and its two-hundred day moving average price is $0.24.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05.

Institutional Investors Weigh In On GlycoMimetics

Hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. purchased a new position in shares of GlycoMimetics in the 4th quarter worth $1,268,000. Wellington Management Group LLP bought a new position in shares of GlycoMimetics in the 4th quarter valued at about $352,000. Jefferies Financial Group Inc. bought a new position in shares of GlycoMimetics in the 4th quarter valued at about $106,000. ADAR1 Capital Management LLC grew its position in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 286,127 shares in the last quarter. Finally, Caxton Corp bought a new stake in GlycoMimetics during the fourth quarter worth approximately $51,000. Hedge funds and other 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.