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

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

GlycoMimetics Stock Performance

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

Institutional Inflows and Outflows

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