Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Large Drop in Short Interest

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 19,643 shares, a decline of 47.3% from the August 15th total of 37,252 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 55,975 shares, the days-to-cover ratio is presently 0.4 days.

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 analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Galmed Pharmaceuticals Stock Performance

Shares of NASDAQ GLMD traded down $0.04 during trading on Tuesday, reaching $4.59. The company had a trading volume of 302,067 shares, compared to its average volume of 52,894. Galmed Pharmaceuticals has a 52 week low of $3.29 and a 52 week high of $13.20. The stock has a market cap of $4.78 million, a PE ratio of -0.30 and a beta of 0.67. The business’s 50 day moving average price is $4.36 and its 200-day moving average price is $4.71.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings results on Wednesday, September 2nd. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the consensus estimate of ($3.12) by $0.26.

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.