Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Significant Drop 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 short-interest ratio is presently 0.2 days. Currently, 0.4% of the company’s shares are short sold.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned 1.28% of Galmed Pharmaceuticals at the end of the most recent quarter. Institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Trading Up 20.4%

Shares of Galmed Pharmaceuticals stock traded up $0.11 during trading on Thursday, hitting $0.63. 287,225 shares of the stock traded hands, compared to its average volume of 1,946,965. The firm has a market cap of $3.46 million, a P/E ratio of -0.50 and a beta of 0.73. Galmed Pharmaceuticals has a 52-week low of $0.41 and a 52-week high of $2.34. The stock’s fifty day simple moving average is $0.63 and its 200 day simple moving average is $0.72.

Wall Street Analyst Weigh In

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

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.