Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.70 and traded as low as $0.5655. Galmed Pharmaceuticals shares last traded at $0.5760, with a volume of 44,446 shares.

Analysts Set New Price Targets

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

Galmed Pharmaceuticals Stock Performance

The firm has a market capitalization of $3.16 million, a P/E ratio of -0.46 and a beta of 0.73. The firm has a 50 day simple moving average of $0.64 and a two-hundred day simple moving average of $0.70.

Hedge Funds Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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 quarter. 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.