StockNews.com Initiates Coverage on Galmed Pharmaceuticals (NASDAQ:GLMD)

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a note issued to investors on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Trading Down 5.1 %

Shares of NASDAQ:GLMD opened at $2.61 on Monday. The company has a market capitalization of $1.68 million, a PE ratio of -0.16 and a beta of 0.66. Galmed Pharmaceuticals has a 12-month low of $2.23 and a 12-month high of $23.80. The business’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $3.62.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC acquired a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned about 3.97% of Galmed Pharmaceuticals as of its most recent SEC filing. Institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd., a biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. It develops Aramchol, an oral therapy, which is in Phase III study for the treatment of non-alcoholic steato-hepatitis (NASH) in patients with overweight or obesity and who are pre-diabetic or type-II-diabetes mellitus.