Initiates Coverage on GlycoMimetics (NASDAQ:GLYC) began coverage on shares of GlycoMimetics (NASDAQ:GLYCGet Rating) in a research report sent to investors on Friday. The firm issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright dropped their price objective on GlycoMimetics from $14.00 to $13.00 and set a buy rating on the stock in a research note on Thursday.

GlycoMimetics Trading Up 21.5 %

Shares of GLYC opened at $0.90 on Friday. GlycoMimetics has a 12-month low of $0.51 and a 12-month high of $2.50. The business’s fifty day moving average is $0.65 and its 200 day moving average is $0.87.

Hedge Funds Weigh In On GlycoMimetics

Several large investors have recently bought and sold shares of GLYC. GSA Capital Partners LLP purchased a new stake in shares of GlycoMimetics during the 4th quarter valued at $210,000. Eversept Partners LP purchased a new stake in shares of GlycoMimetics during the 4th quarter valued at $144,000. Finally, Acadian Asset Management LLC increased its position in shares of GlycoMimetics by 3.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,951,086 shares of the biotechnology company’s stock valued at $2,808,000 after purchasing an additional 64,999 shares during the last quarter. 56.64% of the stock is currently owned by institutional investors.

About GlycoMimetics

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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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