GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Up 208.2% in October

GlycoMimetics, Inc. (NASDAQ:GLYC) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,640,000 shares, a growth of 208.2% from the October 15th total of 1,830,000 shares. Based on an average daily trading volume, of 19,270,000 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen cut GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. StockNews.com started coverage on GlycoMimetics in a research report on Thursday. They set a “sell” rating on the stock.

GlycoMimetics Price Performance

NASDAQ:GLYC remained flat at $0.40 during midday trading on Thursday. 968,892 shares of the company were exchanged, compared to its average volume of 7,211,517. The firm has a market capitalization of $25.75 million, a PE ratio of -0.70 and a beta of 1.85. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53. The business has a 50 day moving average of $0.22 and a two-hundred day moving average of $0.29.

Institutional Trading of GlycoMimetics

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in GlycoMimetics by 483.5% in the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after buying an additional 685,151 shares during the period. Vanguard Group Inc. raised its holdings in 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 last quarter. Finally, Acadian Asset Management LLC lifted 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 worth $150,000 after buying an additional 204,227 shares in the last quarter. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.