Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.63 and traded as high as $2.34. Galmed Pharmaceuticals shares last traded at $2.33, with a volume of 287,700 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GLMD. Wall Street Zen raised Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Maxim Group reiterated a “hold” rating on shares of Galmed Pharmaceuticals in a research report on Friday, April 4th.

Galmed Pharmaceuticals Price Performance

The stock’s 50 day moving average is $1.63 and its two-hundred day moving average is $1.98. The stock has a market capitalization of $3.84 million, a PE ratio of -0.14 and a beta of 0.60.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings data on Thursday, May 22nd. The biopharmaceutical company reported ($0.62) EPS for the quarter.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned 3.97% of Galmed Pharmaceuticals at the end of the most recent reporting period. 76.14% of the stock is owned by institutional investors and hedge funds.

About Galmed Pharmaceuticals

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.