Traders Purchase Large Volume of GlycoMimetics Call Options (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) was the target of some unusual options trading on Tuesday. Traders acquired 11,550 call options on the company. This represents an increase of approximately 15,300% compared to the average volume of 75 call options.

Insider Activity at GlycoMimetics

In other GlycoMimetics news, major shareholder Public Equities L.P. Invus sold 164,523 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $0.19, for a total value of $31,259.37. Following the transaction, the insider now directly owns 6,695,658 shares in the company, valued at $1,272,175.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On GlycoMimetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position 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 purchasing an additional 340,112 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of GlycoMimetics by 61.8% during the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 204,227 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of GlycoMimetics by 483.5% during the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 685,151 shares in the last quarter. 75.19% of the stock is owned by institutional investors and hedge funds.

GlycoMimetics Trading Down 6.8 %

NASDAQ GLYC opened at $0.46 on Thursday. The company has a market cap of $29.43 million, a price-to-earnings ratio of -0.79 and a beta of 2.06. The company has a 50 day moving average of $0.17 and a 200-day moving average of $0.40. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GLYC. TD Cowen downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. StockNews.com began coverage on shares of GlycoMimetics in a research report on Tuesday. They issued a “sell” rating for the company.

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.