Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 59.3% in July

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 30,212 shares, a decrease of 59.3% from the June 30th total of 74,316 shares. Based on an average trading volume of 110,675 shares, the short-interest ratio is currently 0.3 days. Approximately 0.7% of the company’s shares are short sold.

Hedge Funds Weigh In On Galmed Pharmaceuticals

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

Galmed Pharmaceuticals Price Performance

Shares of GLMD stock opened at $0.51 on Monday. Galmed Pharmaceuticals has a 1-year low of $0.41 and a 1-year high of $2.09. The firm has a market cap of $2.81 million, a PE ratio of -0.56 and a beta of 0.75. The company has a 50-day moving average of $0.59 and a two-hundred day moving average of $0.63.

Wall Street Analysts Forecast Growth

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