StockNews.com Begins Coverage on Galmed Pharmaceuticals (NASDAQ:GLMD)

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report sent to investors on Wednesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Price Performance

Galmed Pharmaceuticals stock opened at $1.78 on Wednesday. The firm has a 50-day moving average of $2.61 and a 200-day moving average of $3.47. Galmed Pharmaceuticals has a one year low of $1.75 and a one year high of $23.80. The company has a market cap of $1.15 million, a price-to-earnings ratio of -0.11 and a beta of 0.72.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned about 3.97% of Galmed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 76.14% of the stock is currently owned by institutional investors.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd., a biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. It develops Aramchol, an oral therapy, which is in Phase III study for the treatment of non-alcoholic steato-hepatitis (NASH) in patients with overweight or obesity and who are pre-diabetic or type-II-diabetes mellitus.