Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 77.6% in April

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 112,316 shares, a decline of 77.6% from the April 15th total of 502,390 shares. Based on an average trading volume of 169,623 shares, the days-to-cover ratio is presently 0.7 days. Approximately 2.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned 3.05% of Galmed Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Stock Down 6.0%

Shares of GLMD stock traded down $0.04 during trading hours on Friday, reaching $0.62. 89,929 shares of the stock traded hands, compared to its average volume of 2,062,483. Galmed Pharmaceuticals has a 1-year low of $0.41 and a 1-year high of $2.34. The business has a fifty day moving average price of $0.62 and a 200 day moving average price of $0.79. The firm has a market capitalization of $3.39 million, a PE ratio of -0.50 and a beta of 0.62.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.