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

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Down 5.9 %

GLYC stock opened at $0.26 on Monday. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $3.36. The company has a 50-day moving average price of $0.26 and a 200 day moving average price of $0.24.

Hedge Funds Weigh In On GlycoMimetics

An institutional investor recently bought a new position in GlycoMimetics stock. Wellington Management Group LLP purchased a new position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,413,402 shares of the biotechnology company’s stock, valued at approximately $352,000. Wellington Management Group LLP owned 2.19% of GlycoMimetics at the end of the most recent quarter. 75.19% of the stock is currently owned by 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.