Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Passes Below 200 Day Moving Average – What’s Next?

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.10 and traded as low as $0.5650. Galmed Pharmaceuticals shares last traded at $0.6616, with a volume of 72,145 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Galmed Pharmaceuticals Price Performance

The firm has a market capitalization of $3.63 million, a P/E ratio of -2.07 and a beta of 0.40. The stock’s fifty day simple moving average is $0.75 and its 200 day simple moving average is $1.10.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC purchased a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned about 3.05% of Galmed Pharmaceuticals at the end of the most recent quarter. 76.14% of the stock is owned by hedge funds and other 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.