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

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

GlycoMimetics Trading Down 4.3 %

NASDAQ GLYC opened at $0.27 on Thursday. GlycoMimetics has a 1 year low of $0.14 and a 1 year high of $3.53. The company has a fifty day moving average price of $0.31 and a 200-day moving average price of $0.24.

Institutional Investors Weigh In On GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 61.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,753 shares of the biotechnology company’s stock after acquiring an additional 204,227 shares during the period. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 at the end of the most recent reporting period. 75.19% of the stock is currently 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.