Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 74.7% in August

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the recipient of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 37,252 shares, a decline of 74.7% from the July 30th total of 146,971 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 40,061 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund 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. 76.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Galmed Pharmaceuticals Price Performance

NASDAQ GLMD traded down $0.11 on Thursday, hitting $4.22. 5,738 shares of the company were exchanged, compared to its average volume of 185,592. Galmed Pharmaceuticals has a twelve month low of $3.29 and a twelve month high of $13.20. The firm has a market capitalization of $4.38 million, a P/E ratio of -0.58 and a beta of 0.74. The company’s 50 day moving average price is $4.47 and its 200-day moving average price is $4.78.

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.