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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the recipient of a significant increase in short interest in 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 stock are short sold. Based on an average trading volume of 1,526,313 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Galmed Pharmaceuticals has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned approximately 3.05% of Galmed Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Galmed Pharmaceuticals Price Performance

Shares of GLMD stock traded down $0.01 during trading hours on Wednesday, hitting $0.55. The stock had a trading volume of 39,074 shares, compared to its average volume of 1,558,203. The stock has a market capitalization of $3.63 million, a price-to-earnings ratio of -0.60 and a beta of 0.74. Galmed Pharmaceuticals has a one year low of $0.41 and a one year high of $1.65. The stock’s 50-day moving average price is $0.57 and its two-hundred day moving average price is $0.61.

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.