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

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.36 and traded as high as $4.63. Galmed Pharmaceuticals shares last traded at $4.63, with a volume of 302,067 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Galmed Pharmaceuticals Price Performance

The stock has a market cap of $4.82 million, a P/E ratio of -0.31 and a beta of 0.67. The stock has a 50-day simple moving average of $4.36 and a 200-day simple moving average of $4.72.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Wednesday, September 2nd. The biopharmaceutical company reported ($2.86) EPS for the quarter, topping analysts’ consensus estimates of ($3.12) by $0.26.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned approximately 3.05% of Galmed Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 76.14% of the company’s stock.

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.