GlycoMimetics, Inc. (NASDAQ:GLYC – Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,590,000 shares, a growth of 6.7% from the March 15th total of 1,490,000 shares. Based on an average daily trading volume, of 367,100 shares, the days-to-cover ratio is currently 4.3 days.
Analyst Upgrades and Downgrades
GLYC has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of GlycoMimetics in a research note on Wednesday, March 27th. StockNews.com lowered GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Finally, Capital One Financial reiterated an “overweight” rating on shares of GlycoMimetics in a research report on Thursday, February 22nd.
View Our Latest Stock Analysis on GlycoMimetics
GlycoMimetics Price Performance
Institutional Investors Weigh In On GlycoMimetics
Several hedge funds have recently bought and sold shares of GLYC. Renaissance Technologies LLC lifted its stake in GlycoMimetics by 20.4% in the 2nd quarter. Renaissance Technologies LLC now owns 566,400 shares of the biotechnology company’s stock worth $339,000 after acquiring an additional 95,800 shares in the last quarter. Millennium Management LLC raised its stake in shares of GlycoMimetics by 7.5% during the 2nd quarter. Millennium Management LLC now owns 434,655 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 30,466 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of GlycoMimetics by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,879,412 shares of the biotechnology company’s stock worth $1,037,000 after purchasing an additional 32,650 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of GlycoMimetics during the 4th quarter worth about $225,000. Finally, Geode Capital Management LLC raised its stake in shares of GlycoMimetics by 13.1% during the 4th quarter. Geode Capital Management LLC now owns 405,335 shares of the biotechnology company’s stock worth $1,228,000 after purchasing an additional 46,940 shares in the last quarter. 75.19% of the stock is owned by hedge funds and other institutional investors.
GlycoMimetics Company Profile
GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.
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