GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the biotechnology company’s stock.

GlycoMimetics Price Performance

Shares of GlycoMimetics stock opened at $0.23 on Monday. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.53. The firm has a 50 day simple moving average of $0.29 and a 200 day simple moving average of $0.25.

Institutional Trading of 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% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the quarter. Acadian Asset Management LLC owned approximately 0.83% of GlycoMimetics worth $150,000 as of its most recent SEC filing. 75.19% of the stock is owned by 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.