GlycoMimetics, Inc. (NASDAQ:GLYC) Sees Significant Decline in Short Interest

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,600,000 shares, a drop of 31.6% from the November 15th total of 3,800,000 shares. Based on an average trading volume of 19,350,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of GlycoMimetics by 61.8% in the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 204,227 shares during the period. Renaissance Technologies LLC lifted its position in shares of GlycoMimetics by 483.5% during the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 685,151 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares during the period. 75.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of GlycoMimetics in a research note on Sunday, December 8th. They issued a “sell” rating on the stock.

GlycoMimetics Trading Down 5.1 %

Shares of NASDAQ GLYC traded down $0.01 during mid-day trading on Friday, reaching $0.23. 605,008 shares of the company’s stock were exchanged, compared to its average volume of 6,729,329. The firm has a 50-day moving average price of $0.29 and a two-hundred day moving average price of $0.25. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.53.

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.