Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Large Increase in Short Interest

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 146,971 shares, an increase of 386.5% from the July 15th total of 30,212 shares. Based on an average daily volume of 1,526,313 shares, the short-interest ratio is presently 0.1 days. Currently, 2.8% of the company’s shares are short sold.

Institutional Trading of Galmed Pharmaceuticals

An institutional investor recently bought a new position 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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. 76.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Galmed Pharmaceuticals Trading Down 5.2%

Shares of GLMD stock traded down $0.03 on Thursday, reaching $0.53. 29,043 shares of the company’s stock were exchanged, compared to its average volume of 1,548,760. Galmed Pharmaceuticals has a 52 week low of $0.41 and a 52 week high of $1.65. The stock has a market capitalization of $3.50 million, a PE ratio of -0.58 and a beta of 0.74. The company’s fifty day simple moving average is $0.57 and its 200 day simple moving average is $0.61.

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.