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

GlycoMimetics, Inc. (NASDAQ:GLYC) was the target of a significant increase in short interest during the month of 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 trading volume of 19,270,000 shares, the short-interest ratio is presently 0.3 days.

GlycoMimetics Stock Performance

Shares of GLYC remained flat at $0.40 during midday trading on Thursday. 968,892 shares of the stock were exchanged, compared to its average volume of 7,211,517. The business has a fifty day moving average price of $0.22 and a two-hundred day moving average price of $0.29. The firm has a market capitalization of $25.75 million, a P/E ratio of -0.70 and a beta of 1.85. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.53.

Institutional Trading of GlycoMimetics

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in shares of GlycoMimetics by 61.8% in 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 period. Renaissance Technologies LLC grew its stake in shares of GlycoMimetics by 483.5% in the 2nd 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, Vanguard Group Inc. boosted its holdings in shares of GlycoMimetics by 14.0% in the first 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 period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GLYC. StockNews.com assumed coverage on GlycoMimetics in a report on Thursday. They issued a “sell” rating for the company. TD Cowen cut GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

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.