Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Update

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 37,252 shares, a decline of 74.7% from the July 30th total of 146,971 shares. Based on an average trading volume of 40,061 shares, the short-interest ratio is currently 0.9 days. Currently, 4.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned 3.05% of Galmed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 76.14% of the stock is owned by institutional investors.

Galmed Pharmaceuticals Stock Down 3.5%

Shares of GLMD traded down $0.15 during mid-day trading on Friday, hitting $4.16. 5,363 shares of the company’s stock were exchanged, compared to its average volume of 65,647. Galmed Pharmaceuticals has a 52 week low of $3.29 and a 52 week high of $13.20. The stock’s 50-day simple moving average is $4.45 and its 200-day simple moving average is $4.77. The firm has a market cap of $4.33 million, a price-to-earnings ratio of -0.57 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Galmed Pharmaceuticals presently has a consensus rating of “Sell”.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.

In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.