Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.47 and traded as low as $1.0150. Galmed Pharmaceuticals shares last traded at $1.03, with a volume of 136,105 shares.

Wall Street Analysts Forecast Growth

GLMD has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Galmed Pharmaceuticals has a consensus rating of “Reduce”.

Galmed Pharmaceuticals Stock Up 1.9%

The company has a market cap of $1.73 million, a price-to-earnings ratio of -3.28 and a beta of 0.31. The company has a fifty day simple moving average of $1.21 and a two-hundred day simple moving average of $1.47.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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. Institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd., a biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. It develops Aramchol, an oral therapy, which is in Phase III study for the treatment of non-alcoholic steato-hepatitis (NASH) in patients with overweight or obesity and who are pre-diabetic or type-II-diabetes mellitus.