683 Capital Management LLC Has $5.02 Million Stake in Galmed Pharmaceuticals Ltd (GLMD)
683 Capital Management LLC lifted its stake in shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 549,295 shares of the biopharmaceutical company’s stock after purchasing an additional 49,295 shares during the quarter. 683 Capital Management LLC owned about 4.31% of Galmed Pharmaceuticals worth $5,021,000 at the end of the most recent quarter.
Separately, GRT Capital Partners L.L.C. purchased a new stake in shares of Galmed Pharmaceuticals during the second quarter worth approximately $114,000. Hedge funds and other institutional investors own 9.85% of the company’s stock.
Several equities research analysts have recently commented on GLMD shares. Roth Capital started coverage on Galmed Pharmaceuticals in a research note on Wednesday, November 15th. They set a “buy” rating and a $32.00 price target for the company. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Galmed Pharmaceuticals in a research note on Friday, November 10th. Seaport Global Securities restated a “buy” rating and set a $19.00 price target on shares of Galmed Pharmaceuticals in a research note on Friday, October 6th. Zacks Investment Research upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Tuesday, November 14th. Finally, Maxim Group restated a “buy” rating and set a $14.00 price target on shares of Galmed Pharmaceuticals in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $18.30.
Galmed Pharmaceuticals Ltd (GLMD) opened at $9.04 on Friday. Galmed Pharmaceuticals Ltd has a 52-week low of $3.04 and a 52-week high of $9.78.
Galmed Pharmaceuticals Profile
Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate (FABAC), called aramchol.
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