GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Update

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 5,640,000 shares, an increase of 208.2% from the October 15th total of 1,830,000 shares. Based on an average daily volume of 19,270,000 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On GlycoMimetics

A number of hedge funds have recently bought and sold shares of GLYC. Vanguard Group Inc. lifted its holdings in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares during the last quarter. Renaissance Technologies LLC lifted its stake in GlycoMimetics by 483.5% during the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 685,151 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in GlycoMimetics by 61.8% during the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 204,227 shares during the last quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLYC. TD Cowen downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th. StockNews.com started coverage on shares of GlycoMimetics in a report on Wednesday, November 6th. They set a “sell” rating on the stock.

GlycoMimetics Trading Down 5.3 %

GLYC stock traded down $0.02 during mid-day trading on Tuesday, hitting $0.40. 969,676 shares of the company were exchanged, compared to its average volume of 7,268,117. The firm has a fifty day simple moving average of $0.21 and a 200 day simple moving average of $0.30. The company has a market capitalization of $25.50 million, a PE ratio of -0.71 and a beta of 1.85. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.53.

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.