GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Up 6.7% in March

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,590,000 shares, a growth of 6.7% from the March 15th total of 1,490,000 shares. Based on an average daily volume of 367,100 shares, the days-to-cover ratio is currently 4.3 days.

GlycoMimetics Stock Performance

GLYC stock traded up $0.18 during midday trading on Wednesday, reaching $2.33. The stock had a trading volume of 344,100 shares, compared to its average volume of 395,011. The firm has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $2.30. GlycoMimetics has a 52-week low of $1.11 and a 52-week high of $3.53.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com lowered GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Capital One Financial restated an “overweight” rating on shares of GlycoMimetics in a research note on Thursday, February 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of GlycoMimetics in a research note on Wednesday, March 27th.

Institutional Trading of GlycoMimetics

Several institutional investors have recently made changes to their positions in GLYC. Northern Trust Corp grew its stake in shares of GlycoMimetics by 4.7% during the fourth quarter. Northern Trust Corp now owns 111,254 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 5,018 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in GlycoMimetics in the fourth quarter valued at $68,000. Tower Research Capital LLC TRC acquired a new position in GlycoMimetics in the first quarter valued at $30,000. Jane Street Group LLC acquired a new position in GlycoMimetics in the fourth quarter valued at $75,000. Finally, Bridgeway Capital Management LLC boosted its stake in GlycoMimetics by 14.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 197,200 shares of the biotechnology company’s stock valued at $465,000 after acquiring an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.