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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 17,120 shares, a drop of 70.3% from the May 14th total of 57,617 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 75,265 shares, the short-interest ratio is currently 0.2 days.

Galmed Pharmaceuticals Trading Up 20.4%

Shares of GLMD stock traded up $0.11 during trading hours on Thursday, reaching $0.63. 287,225 shares of the stock were exchanged, compared to its average volume of 1,946,965. The firm has a market capitalization of $3.46 million, a price-to-earnings ratio of -0.50 and a beta of 0.73. Galmed Pharmaceuticals has a 12-month low of $0.41 and a 12-month high of $2.34. The company’s 50-day moving average price is $0.63 and its 200-day moving average price is $0.72.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 data from MarketBeat, Galmed Pharmaceuticals currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP bought a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned 1.28% of Galmed Pharmaceuticals as of its most recent SEC filing. 76.14% of the stock is currently owned by institutional investors.

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.