Galmed Pharmaceuticals (NASDAQ:GLMD) Shares Cross Below 200-Day Moving Average – Time to Sell?

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.62 and traded as low as $0.5753. Galmed Pharmaceuticals shares last traded at $0.5850, with a volume of 70,973 shares changing hands.

Wall Street Analysts Forecast Growth

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

Galmed Pharmaceuticals Stock Performance

The company has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $0.62. The company has a market capitalization of $3.83 million, a price-to-earnings ratio of -0.64 and a beta of 0.74.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC purchased a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.

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.