StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC – Free Report) in a research note published on Wednesday morning. The firm issued a sell rating on the biotechnology company’s stock.
GlycoMimetics Stock Performance
GLYC opened at $0.28 on Wednesday. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.53. The stock’s 50 day moving average price is $0.32 and its 200 day moving average price is $0.24.
Hedge Funds Weigh In On GlycoMimetics
A hedge fund recently raised its stake in GlycoMimetics stock. Acadian Asset Management LLC boosted its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC – Free Report) by 61.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 534,753 shares of the biotechnology company’s stock after purchasing an additional 204,227 shares during the period. Acadian Asset Management LLC owned about 0.83% of GlycoMimetics worth $150,000 at the end of the most recent reporting period. 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.
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