Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Decreases By 73.6%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 74,316 shares, a decrease of 73.6% from the June 15th total of 281,382 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 129,618 shares, the short-interest ratio is currently 0.6 days.

Galmed Pharmaceuticals Stock Down 5.0%

Shares of Galmed Pharmaceuticals stock traded down $0.03 during mid-day trading on Tuesday, hitting $0.51. The stock had a trading volume of 17,343 shares, compared to its average volume of 1,660,558. The firm has a 50-day moving average of $0.60 and a two-hundred day moving average of $0.65. The firm has a market cap of $2.79 million, a P/E ratio of -0.41 and a beta of 0.75. Galmed Pharmaceuticals has a 12-month low of $0.41 and a 12-month high of $2.34.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings results on Wednesday, July 8th. The biopharmaceutical company reported $0.29 EPS for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC purchased a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned 3.05% of Galmed Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 76.14% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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 data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.