Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Expands By 2,578.7%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 502,390 shares, an increase of 2,578.7% from the March 31st total of 18,755 shares. Approximately 11.4% of the shares of the company are sold short. Based on an average daily volume of 17,989,653 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 quarter. 76.14% of the stock is currently owned by institutional investors.

Galmed Pharmaceuticals Stock Up 1.9%

Shares of Galmed Pharmaceuticals stock traded up $0.01 during trading hours on Friday, reaching $0.63. 137,135 shares of the stock traded hands, compared to its average volume of 2,427,946. The company has a 50 day moving average price of $0.62 and a 200 day moving average price of $0.88. The firm has a market capitalization of $3.44 million, a price-to-earnings ratio of -0.51 and a beta of 0.47. Galmed Pharmaceuticals has a one year low of $0.41 and a one year high of $2.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

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.