GlycoMimetics, Inc. (NASDAQ:GLYC) Sees Large Growth in Short Interest

GlycoMimetics, Inc. (NASDAQ:GLYC - Get Free Report) was the target of 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 trading volume, of 367,100 shares, the short-interest ratio is currently 4.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com cut GlycoMimetics from a "hold" rating to a "sell" rating in a report on Thursday, March 14th. Capital One Financial reiterated an "overweight" rating on shares of GlycoMimetics in a report on Thursday, February 22nd. Finally, HC Wainwright restated a "buy" rating and set a $8.00 target price on shares of GlycoMimetics in a report on Wednesday, March 27th.

Hedge Funds Weigh In On GlycoMimetics

Large investors have recently bought and sold shares of the stock. MJP Associates Inc. ADV acquired a new stake in shares of GlycoMimetics during the fourth quarter worth about $238,000. Acuta Capital Partners LLC acquired a new stake in shares of GlycoMimetics during the third quarter worth about $41,000. Millennium Management LLC boosted its stake in shares of GlycoMimetics by 7.5% during the second quarter. Millennium Management LLC now owns 434,655 shares of the biotechnology company's stock worth $260,000 after buying an additional 30,466 shares during the period. State Street Corp boosted its stake in shares of GlycoMimetics by 19.3% during the first quarter. State Street Corp now owns 186,765 shares of the biotechnology company's stock worth $235,000 after buying an additional 30,200 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of GlycoMimetics during the fourth quarter worth about $225,000. Institutional investors and hedge funds own 75.19% of the company's stock.

GlycoMimetics Stock Performance

Shares of GlycoMimetics stock traded down $0.10 during trading hours on Tuesday, reaching $2.15. 599,070 shares of the company were exchanged, compared to its average volume of 396,050. The firm has a market cap of $138.57 million, a PE ratio of -3.71 and a beta of 2.18. The stock's fifty day moving average is $2.89 and its 200 day moving average is $2.30. GlycoMimetics has a 1 year low of $1.11 and a 1 year high of $3.53.

About GlycoMimetics

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.