GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report issued on Friday morning. The firm issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Up 3.1 %

NASDAQ:GLYC opened at $0.26 on Friday. The company has a 50-day moving average of $0.29 and a 200-day moving average of $0.24. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53.

Institutional Trading of GlycoMimetics

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC increased its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) by 483.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,851 shares of the biotechnology company’s stock after buying 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 quarter. Institutional investors own 75.19% of the company’s stock.

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.