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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 281,382 shares, a growth of 1,543.6% from the May 31st total of 17,120 shares. Based on an average trading volume of 2,102,038 shares, the days-to-cover ratio is currently 0.1 days. Approximately 6.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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, Galmed Pharmaceuticals has an average rating of “Sell”.

Galmed Pharmaceuticals Stock Performance

Shares of NASDAQ GLMD remained flat at $0.57 during midday trading on Friday. The stock had a trading volume of 25,634 shares, compared to its average volume of 1,288,150. The firm has a fifty day simple moving average of $0.62 and a two-hundred day simple moving average of $0.69. The company has a market cap of $3.14 million, a P/E ratio of -0.46 and a beta of 0.73. Galmed Pharmaceuticals has a 1-year low of $0.41 and a 1-year high of $2.34.

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) during the third quarter, according to its most recent disclosure with the SEC. The firm 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. Institutional investors and hedge funds own 76.14% of the company’s stock.

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.