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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 17,367 shares, a drop of 35.3% from the February 26th total of 26,832 shares. Based on an average daily volume of 18,421 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Trading of Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned about 1.28% of Galmed Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Galmed Pharmaceuticals has a consensus rating of “Reduce”.

Galmed Pharmaceuticals Stock Down 14.2%

Shares of GLMD stock opened at $0.50 on Friday. The firm has a 50 day moving average price of $0.65 and a two-hundred day moving average price of $0.99. The company has a market capitalization of $2.77 million, a PE ratio of -1.58 and a beta of 0.40. Galmed Pharmaceuticals has a 12-month low of $0.41 and a 12-month high of $2.68.

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.