Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 73.6% in June

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

Hedge Funds Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned about 1.28% of Galmed Pharmaceuticals as of its most recent filing with the SEC. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Trading Down 4.1%

NASDAQ GLMD traded down $0.02 during mid-day trading on Monday, hitting $0.54. The company’s stock had a trading volume of 67,666 shares, compared to its average volume of 122,764. The firm has a market capitalization of $2.94 million, a price-to-earnings ratio of -0.43 and a beta of 0.75. The company’s 50 day simple moving average is $0.60 and its 200 day simple moving average is $0.65. Galmed Pharmaceuticals has a twelve month low of $0.41 and a twelve month high of $2.34.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Galmed Pharmaceuticals currently 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.