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

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

Separately, TD Cowen lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

GlycoMimetics Stock Up 7.6 %

GlycoMimetics stock opened at $0.18 on Monday. The stock has a market capitalization of $11.44 million, a PE ratio of -0.31 and a beta of 2.06. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53. The company has a 50 day moving average of $0.17 and a 200-day moving average of $0.48.

Insider Transactions at GlycoMimetics

In other news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $0.19, for a total value of $31,259.37. Following the sale, the insider now owns 6,695,658 shares of the company’s stock, valued at $1,272,175.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 911,859 shares of company stock valued at $205,659 over the last 90 days. 8.70% of the stock is owned by corporate insiders.

Institutional Trading of GlycoMimetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position 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 acquiring an additional 685,151 shares in the last quarter. Acadian Asset Management LLC raised its position 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 acquiring an additional 204,227 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in GlycoMimetics by 14.0% during the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares in the last quarter. 75.19% of the stock is 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.