GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

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

Other analysts have also recently issued research reports about the stock. Capital One Financial cut shares of GlycoMimetics from an overweight rating to an equal weight rating in a research note on Monday, May 6th. HC Wainwright reiterated a neutral rating on shares of GlycoMimetics in a report on Tuesday, June 4th. Finally, TD Cowen lowered shares of GlycoMimetics from a buy rating to a hold rating in a report on Friday, July 26th.

GlycoMimetics Stock Performance

Shares of NASDAQ GLYC opened at $0.19 on Friday. GlycoMimetics has a 12-month low of $0.17 and a 12-month high of $3.53. The stock has a market cap of $11.93 million, a PE ratio of -0.32 and a beta of 2.19. The company has a 50-day moving average of $0.25 and a 200 day moving average of $1.35.

Insider Buying and Selling

In related news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $0.24, for a total transaction of $62,000.40. Following the completion of the transaction, the insider now owns 8,330,729 shares of the company’s stock, valued at approximately $1,999,374.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GlycoMimetics news, insider Edwin Rock purchased 190,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $0.25 per share, with a total value of $47,500.00. Following the transaction, the insider now directly owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Public Equities L.P. Invus sold 258,335 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $0.24, for a total transaction of $62,000.40. Following the completion of the transaction, the insider now directly owns 8,330,729 shares of the company’s stock, valued at approximately $1,999,374.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 911,859 shares of company stock valued at $205,659. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor OS LLC acquired a new stake in shares of GlycoMimetics in the 4th quarter valued at $238,000. Acadian Asset Management LLC raised its stake in GlycoMimetics by 61.8% during the 2nd 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. Renaissance Technologies LLC raised its stake in GlycoMimetics by 483.5% during the 2nd 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. Finally, Vanguard Group Inc. grew its position in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after purchasing an additional 340,112 shares during the last quarter. 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.