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

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report released on Saturday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Trading Up 0.9 %

NASDAQ:GLYC opened at $0.27 on Friday. The stock has a fifty day simple moving average of $0.28 and a 200 day simple moving average of $0.24. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.50.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GlycoMimetics stock. Renaissance Technologies LLC raised its position 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 firm owned 826,851 shares of the biotechnology company’s stock after purchasing an additional 685,151 shares during the quarter. Renaissance Technologies LLC owned 1.28% of GlycoMimetics worth $233,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.