GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

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

GlycoMimetics Stock Performance

Shares of GlycoMimetics stock opened at $0.26 on Friday. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.50. The stock’s 50-day simple moving average is $0.28 and its 200 day simple moving average is $0.24.

Institutional Inflows and Outflows

A hedge fund recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC lifted its stake in GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 826,851 shares of the biotechnology company’s stock after acquiring an additional 685,151 shares during the period. Renaissance Technologies LLC owned approximately 1.28% of GlycoMimetics worth $233,000 at the end of the most recent reporting period. 75.19% of the stock is owned by institutional investors.

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.