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

Equities researchers at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYCGet Rating) in a research report issued on Friday. The firm set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright decreased their target price on GlycoMimetics from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday.

GlycoMimetics Trading Up 5.5 %

NASDAQ:GLYC opened at $0.74 on Friday. The company has a market capitalization of $38.72 million, a P/E ratio of -0.60 and a beta of 1.85. GlycoMimetics has a 12 month low of $0.51 and a 12 month high of $2.50. The business’s 50-day moving average is $0.65 and its 200 day moving average is $0.88.

Institutional Investors Weigh In On GlycoMimetics

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC raised its position in GlycoMimetics by 2.0% during the first quarter. Acadian Asset Management LLC now owns 1,990,087 shares of the biotechnology company’s stock valued at $2,267,000 after purchasing an additional 39,001 shares during the period. Eversept Partners LP bought a new position in GlycoMimetics in the fourth quarter worth approximately $144,000. Finally, GSA Capital Partners LLP bought a new position in GlycoMimetics in the fourth quarter worth approximately $210,000. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

(Get Rating)

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML.

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