StockNews.com Initiates Coverage on GlycoMimetics (NASDAQ:GLYC)

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

GlycoMimetics Trading Up 3.1 %

NASDAQ:GLYC opened at $0.26 on Friday. The business’s 50-day moving average is $0.29 and its 200 day moving average is $0.24. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.53.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC raised its holdings in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned 0.83% of GlycoMimetics worth $150,000 as of its most recent filing with the Securities & Exchange Commission. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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.