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

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

A number of other research analysts also recently commented on the stock. HC Wainwright reissued a neutral rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. TD Cowen cut GlycoMimetics from a buy rating to a hold rating in a report on Friday, July 26th.

GlycoMimetics Stock Performance

NASDAQ:GLYC opened at $0.17 on Friday. The stock has a market capitalization of $10.89 million, a PE ratio of -0.29 and a beta of 2.07. GlycoMimetics has a 1-year low of $0.16 and a 1-year high of $3.53. The firm has a fifty day simple moving average of $0.19 and a 200 day simple moving average of $0.80.

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $0.19, for a total value of $31,259.37. Following the transaction, the insider now directly owns 6,695,658 shares of the company’s stock, valued at approximately $1,272,175.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 911,859 shares of company stock valued at $205,659 in the last three months. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GlycoMimetics

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of GlycoMimetics by 14.0% during 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 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 buying an additional 204,227 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 685,151 shares during the period. 75.19% of the stock is currently owned by institutional investors.

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.