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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 17,120 shares, a drop of 70.3% from the May 14th total of 57,617 shares. Based on an average daily volume of 75,265 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Trading of Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned 1.28% of Galmed Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Stock Down 0.6%

Shares of NASDAQ GLMD traded down $0.00 during trading on Friday, hitting $0.61. The company had a trading volume of 195,023 shares, compared to its average volume of 1,236,955. The stock has a fifty day simple moving average of $0.63 and a two-hundred day simple moving average of $0.71. Galmed Pharmaceuticals has a fifty-two week low of $0.41 and a fifty-two week high of $2.34. The firm has a market capitalization of $3.35 million, a price-to-earnings ratio of -0.49 and a beta of 0.73.

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.