Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Grows By 1,543.6%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 281,382 shares, a growth of 1,543.6% from the May 31st total of 17,120 shares. Approximately 6.4% of the shares of the stock are sold short. Based on an average daily volume of 2,102,038 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned approximately 1.28% of Galmed Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 76.14% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Galmed Pharmaceuticals has a consensus rating of “Sell”.

Galmed Pharmaceuticals Trading Down 2.4%

GLMD stock traded down $0.01 during midday trading on Thursday, reaching $0.57. The company had a trading volume of 109,980 shares, compared to its average volume of 1,288,759. The company has a 50 day moving average of $0.62 and a two-hundred day moving average of $0.69. The company has a market capitalization of $3.14 million, a P/E ratio of -0.46 and a beta of 0.73. Galmed Pharmaceuticals has a 1 year low of $0.41 and a 1 year high of $2.34.

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.