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

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

GlycoMimetics Stock Down 4.8 %

Shares of NASDAQ:GLYC opened at $0.22 on Monday. The company has a 50 day moving average of $0.29 and a two-hundred day moving average of $0.25. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC raised its holdings in GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the period. Acadian Asset Management LLC owned about 0.83% of GlycoMimetics worth $150,000 as of its most recent SEC filing. 75.19% of the stock is owned by institutional investors and hedge funds.

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.