GlycoMimetics (NASDAQ:GLYC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Saturday morning. The firm issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Performance

GLYC opened at $0.27 on Friday. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.50. The stock’s 50 day moving average price is $0.28 and its 200 day moving average price is $0.24.

Institutional Investors Weigh In On GlycoMimetics

A hedge fund recently raised its stake in GlycoMimetics stock. Renaissance Technologies LLC raised its holdings in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 as of its most recent filing with the Securities and Exchange Commission. 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.