Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 74.2% in December

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 103,943 shares, a decline of 74.2% from the November 30th total of 402,206 shares. Based on an average daily volume of 209,659 shares, the days-to-cover ratio is presently 0.5 days. Approximately 7.8% of the company’s stock are sold short. Approximately 7.8% of the company’s stock are sold short. Based on an average daily volume of 209,659 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned 3.05% of Galmed Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GLMD has been the subject of several research reports. Wall Street Zen downgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Galmed Pharmaceuticals presently has a consensus rating of “Reduce”.

Galmed Pharmaceuticals Stock Up 0.6%

Shares of NASDAQ:GLMD traded up $0.01 during midday trading on Thursday, reaching $0.89. The company had a trading volume of 29,664 shares, compared to its average volume of 160,569. Galmed Pharmaceuticals has a 1-year low of $0.74 and a 1-year high of $3.61. The stock has a market cap of $1.46 million, a PE ratio of -2.77 and a beta of 0.31. The business’s 50 day moving average price is $1.11 and its 200 day moving average price is $1.44.

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.