Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Drops By 59.3%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 30,212 shares, a decline of 59.3% from the June 30th total of 74,316 shares. Based on an average trading volume of 110,675 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.7% of the shares of the company are short sold.

Galmed Pharmaceuticals Stock Down 1.3%

Shares of Galmed Pharmaceuticals stock traded down $0.01 on Tuesday, reaching $0.52. The company’s stock had a trading volume of 3,128,235 shares, compared to its average volume of 1,673,879. The company has a market capitalization of $2.85 million, a P/E ratio of -0.57 and a beta of 0.75. The stock has a 50-day moving average price of $0.58 and a 200-day moving average price of $0.63. Galmed Pharmaceuticals has a 52-week low of $0.41 and a 52-week high of $1.93.

Hedge Funds Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to the company in its most recent 13F 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 approximately 3.05% of Galmed Pharmaceuticals at the end of the most recent reporting period. 76.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Galmed Pharmaceuticals currently has an average 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.