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

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

GlycoMimetics Stock Up 3.4 %

GlycoMimetics stock opened at $0.27 on Friday. The firm’s fifty day moving average price is $0.27 and its two-hundred day moving average price is $0.24. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.38.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC raised its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the period. Renaissance Technologies LLC owned about 1.28% of GlycoMimetics worth $233,000 as of its most recent SEC filing. Hedge funds and other 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.