GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Trading Down 2.3 %

GlycoMimetics stock opened at $0.26 on Friday. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.38. The business’s 50-day moving average price is $0.27 and its two-hundred day moving average price is $0.24.

Institutional Trading of GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC lifted its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. 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 1.28% of GlycoMimetics worth $233,000 at the end of the most recent reporting period. 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.