Galmed Pharmaceuticals (NASDAQ:GLMD) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.04), Morningstar.com reports. Galmed Pharmaceuticals had a negative return on equity of 167.83% and a negative net margin of 1,242.49%.
Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) traded down $0.30 during midday trading on Tuesday, hitting $6.05. 15,157 shares of the company traded hands, compared to its average volume of 95,546. Galmed Pharmaceuticals has a 12-month low of $3.61 and a 12-month high of $12.22. The firm has a market capitalization of $81.24, a PE ratio of -5.50 and a beta of 2.91.
Several hedge funds and other institutional investors have recently made changes to their positions in GLMD. 683 Capital Management LLC lifted its stake in shares of Galmed Pharmaceuticals by 9.9% in the third quarter. 683 Capital Management LLC now owns 549,295 shares of the biopharmaceutical company’s stock valued at $5,021,000 after purchasing an additional 49,295 shares during the period. Sphera Funds Management LTD. acquired a new stake in shares of Galmed Pharmaceuticals in the fourth quarter valued at about $2,164,000. Renaissance Technologies LLC acquired a new stake in shares of Galmed Pharmaceuticals in the fourth quarter valued at about $345,000. Deutsche Bank AG acquired a new stake in shares of Galmed Pharmaceuticals in the fourth quarter valued at about $246,000. Finally, Park West Asset Management LLC lifted its stake in shares of Galmed Pharmaceuticals by 4.4% in the fourth quarter. Park West Asset Management LLC now owns 292,847 shares of the biopharmaceutical company’s stock valued at $2,679,000 after purchasing an additional 12,347 shares during the period. Hedge funds and other institutional investors own 21.44% of the company’s stock.
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Galmed Pharmaceuticals Company Profile
Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate (FABAC), called aramchol.
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