Galmed Pharmaceuticals (NASDAQ:GLMD) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.62 and traded as high as $0.6250. Galmed Pharmaceuticals shares last traded at $0.6040, with a volume of 24,519 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Galmed Pharmaceuticals presently has an average rating of “Sell”.

Galmed Pharmaceuticals Price Performance

The stock’s 50 day moving average price is $0.62 and its two-hundred day moving average price is $0.76. The firm has a market capitalization of $3.18 million, a price-to-earnings ratio of -0.47 and a beta of 0.62.

Institutional Trading of Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 3rd quarter, according to its most recent filing 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 about 3.05% of Galmed Pharmaceuticals at the end of the most recent reporting period. 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.