Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.39 and traded as high as $1.5399. Galmed Pharmaceuticals shares last traded at $1.05, with a volume of 97,121,874 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLMD. Wall Street Zen downgraded Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Galmed Pharmaceuticals has an average rating of “Reduce”.

Galmed Pharmaceuticals Trading Down 13.6%

The stock has a 50-day simple moving average of $1.38 and a 200 day simple moving average of $1.51. The company has a market cap of $1.56 million, a price-to-earnings ratio of -0.41 and a beta of 0.49.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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.

About Galmed Pharmaceuticals

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.