Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Large Decline in Short Interest

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totaling 30,212 shares, a decline of 59.3% from the June 30th total of 74,316 shares. Based on an average daily trading volume, of 110,675 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.7% of the company’s shares are sold short.

Galmed Pharmaceuticals Stock Performance

NASDAQ GLMD opened at $0.51 on Monday. The firm has a 50 day simple moving average of $0.59 and a 200-day simple moving average of $0.63. Galmed Pharmaceuticals has a one year low of $0.41 and a one year high of $2.09. The firm has a market cap of $2.81 million, a price-to-earnings ratio of -0.56 and a beta of 0.75.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC purchased a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 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 SEC filing. 76.14% of the stock is owned by institutional investors and hedge funds.

Galmed Pharmaceuticals Company Profile

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.