GlycoMimetics, Inc. (NASDAQ:GLYC) Short Interest Update

GlycoMimetics, Inc. (NASDAQ:GLYC) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,870,000 shares, an increase of 30.5% from the February 13th total of 2,200,000 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on GlycoMimetics in a research report on Friday. They issued a “sell” rating for the company.

GlycoMimetics Trading Up 1.0 %

GlycoMimetics stock traded up $0.00 during midday trading on Tuesday, hitting $0.27. 149,071 shares of the company’s stock were exchanged, compared to its average volume of 6,751,795. The firm’s 50 day simple moving average is $0.27 and its 200 day simple moving average is $0.26. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. Analysts forecast that GlycoMimetics will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. acquired a new position in GlycoMimetics in the 4th quarter valued at $1,268,000. VR Adviser LLC acquired a new position in shares of GlycoMimetics during the fourth quarter worth about $747,000. Wellington Management Group LLP purchased a new position in GlycoMimetics during the fourth quarter worth about $352,000. Jefferies Financial Group Inc. purchased a new position in shares of GlycoMimetics in the 4th quarter valued at about $106,000. Finally, ADAR1 Capital Management LLC grew its position in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after buying an additional 286,127 shares during the period. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.