GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Down 32.6% in November

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

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

GlycoMimetics Stock Performance

GLYC stock traded up $0.03 during midday trading on Friday, hitting $0.35. The company’s stock 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 200-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.