GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Up 208.2% in October

GlycoMimetics, Inc. (NASDAQ:GLYC) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,640,000 shares, an increase of 208.2% from the October 15th total of 1,830,000 shares. Based on an average trading volume of 19,270,000 shares, the short-interest ratio is presently 0.3 days.

GlycoMimetics Stock Down 5.3 %

NASDAQ GLYC traded down $0.02 on Tuesday, reaching $0.40. 969,676 shares of the stock traded hands, compared to its average volume of 7,268,117. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.53. The company has a market cap of $25.50 million, a price-to-earnings ratio of -0.71 and a beta of 1.85. The firm’s fifty day simple moving average is $0.21 and its 200 day simple moving average is $0.30.

Institutional Investors Weigh In On GlycoMimetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in shares of GlycoMimetics by 61.8% during the 2nd 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in 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 buying an additional 685,151 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares during the last quarter. 75.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLYC. TD Cowen downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th. StockNews.com began coverage on shares of GlycoMimetics in a research note on Wednesday, November 6th. They set a “sell” rating for the company.

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.