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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 146,971 shares, an increase of 386.5% from the July 15th total of 30,212 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,526,313 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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.com, the company currently has an average rating of “Sell”.

Galmed Pharmaceuticals Stock Performance

Shares of NASDAQ GLMD traded down $0.01 during trading on Wednesday, hitting $0.55. The company had a trading volume of 39,074 shares, compared to its average volume of 1,558,203. Galmed Pharmaceuticals has a 12 month low of $0.41 and a 12 month high of $1.65. The firm has a market capitalization of $3.63 million, a P/E ratio of -0.60 and a beta of 0.74. The stock has a 50 day simple moving average of $0.57 and a 200 day simple moving average of $0.61.

Institutional Trading of Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. 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 SEC. 76.14% of the stock is currently owned by institutional investors.

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.