Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 74.7% in August

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 37,252 shares, a drop of 74.7% from the July 30th total of 146,971 shares. Based on an average daily volume of 40,061 shares, the days-to-cover ratio is presently 0.9 days. Approximately 4.5% of the shares of the stock are short sold.

Galmed Pharmaceuticals Stock Performance

Shares of NASDAQ:GLMD traded down $0.15 during trading on Friday, reaching $4.16. The stock had a trading volume of 5,363 shares, compared to its average volume of 184,502. Galmed Pharmaceuticals has a 1-year low of $3.29 and a 1-year high of $13.20. The stock has a market cap of $4.33 million, a PE ratio of -0.57 and a beta of 0.74. The business has a fifty day moving average price of $4.46 and a 200-day moving average price of $4.77.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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 SEC filing. 76.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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