GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Up 6.7% in March

GlycoMimetics, Inc. (NASDAQ:GLYC) saw a large growth in short interest during the month of 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 volume of 367,100 shares, the short-interest ratio is currently 4.3 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GLYC shares. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of GlycoMimetics in a research report on Wednesday, March 27th. StockNews.com lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of GlycoMimetics in a report on Thursday, February 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. acquired a new position in GlycoMimetics during the 4th quarter valued at about $68,000. Tower Research Capital LLC TRC acquired a new position in GlycoMimetics during the 1st quarter valued at about $30,000. Jane Street Group LLC bought a new stake in shares of GlycoMimetics during the 4th quarter worth about $75,000. Acuta Capital Partners LLC bought a new stake in shares of GlycoMimetics during the 3rd quarter worth about $41,000. Finally, XTX Topco Ltd bought a new stake in shares of GlycoMimetics during the 2nd quarter worth about $52,000. 75.19% of the stock is owned by institutional investors and hedge funds.

GlycoMimetics Trading Up 8.4 %

GlycoMimetics stock traded up $0.18 during midday trading on Wednesday, reaching $2.33. 344,100 shares of the stock traded hands, compared to its average volume of 395,011. The firm has a fifty day moving average price of $2.89 and a two-hundred day moving average price of $2.30. GlycoMimetics has a fifty-two week low of $1.11 and a fifty-two week high of $3.53.

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.