Galmed Pharmaceuticals Ltd. (NASDAQ:EOCN) Shares Shorted: Short Interest Down 46.7% in October

Galmed Pharmaceuticals Ltd. (NASDAQ:EOCN) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 7,516 shares, a drop of 46.7% from the September 30th total of 14,112 shares. Based on an average daily trading volume, of 9,029 shares, the short-interest ratio is currently 0.8 days. Currently, 0.9% of the company’s shares are short sold.

Galmed Pharmaceuticals Price Performance

Shares of NASDAQ EOCN traded down $0.12 during midday trading on Friday, hitting $3.10. The company’s stock had a trading volume of 3,112 shares, compared to its average volume of 7,782. The business’s fifty day simple moving average is $4.05 and its two-hundred day simple moving average is $4.71. Galmed Pharmaceuticals has a 1 year low of $2.33 and a 1 year high of $12.32. The firm has a market capitalization of $3.23 million, a price-to-earnings ratio of -0.20 and a beta of 0.66.

Galmed Pharmaceuticals (NASDAQ:EOCN) last announced its quarterly earnings data on Wednesday, September 2nd. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.12) by $0.26.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

Galmed Pharmaceuticals Company Profile

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. The company also evaluates Aramchol through ARRIVE Study, a Phase IIa clinical trial with HIV-associated non-alcoholic fatty liver disease and lipodystrophy.