StockNews.com began coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD – Free Report) in a research note published on Tuesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.
Galmed Pharmaceuticals Trading Down 1.9 %
GLMD stock opened at $0.37 on Tuesday. The company has a market capitalization of $1.88 million, a PE ratio of -0.11 and a beta of 0.87. Galmed Pharmaceuticals has a 12-month low of $0.26 and a 12-month high of $7.80. The business’s fifty day moving average price is $0.36 and its 200 day moving average price is $0.38.
Institutional Investors Weigh In On Galmed Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC purchased a new stake in Galmed Pharmaceuticals during the 3rd quarter worth about $155,000. Millennium Management LLC increased its holdings in Galmed Pharmaceuticals by 218.4% during the 4th quarter. Millennium Management LLC now owns 149,217 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 102,351 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Galmed Pharmaceuticals by 158.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 38,856 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Galmed Pharmaceuticals during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.
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.
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