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

GlycoMimetics, Inc. (NASDAQ:GLYC) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 3,800,000 shares, a decline of 32.6% from the October 31st total of 5,640,000 shares. Based on an average daily trading volume, of 19,340,000 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of GlycoMimetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after purchasing an additional 340,112 shares during the period. Renaissance Technologies LLC lifted its stake in GlycoMimetics by 483.5% in the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 685,151 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings 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 acquiring an additional 204,227 shares during the period. Institutional investors and hedge funds own 75.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on GlycoMimetics in a research report on Friday, November 22nd. They set a “sell” rating on the stock.

GlycoMimetics Trading Up 10.8 %

Shares of NASDAQ GLYC traded up $0.03 during mid-day trading on Friday, reaching $0.35. The company had a trading volume of 1,244,905 shares, compared to its average volume of 6,990,331. The firm has a 50 day simple moving average of $0.26 and a two-hundred day simple moving average of $0.25. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.53.

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.