Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Large Growth in Short Interest

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 48,500 shares, a growth of 889.8% from the February 28th total of 4,900 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average trading volume of 820,700 shares, the days-to-cover ratio is presently 0.1 days.

Galmed Pharmaceuticals Trading Down 3.4 %

GLMD traded down $0.06 on Thursday, hitting $1.68. 44,050 shares of the company’s stock were exchanged, compared to its average volume of 896,127. The firm has a 50-day moving average price of $2.42 and a 200-day moving average price of $3.39. The stock has a market cap of $1.08 million, a price-to-earnings ratio of -0.10 and a beta of 0.72. Galmed Pharmaceuticals has a fifty-two week low of $1.66 and a fifty-two week high of $23.80.

Institutional Trading of Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC bought a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 at the end of the most recent reporting period. Institutional investors own 76.14% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Galmed Pharmaceuticals in a research note on Thursday, March 20th. They issued a “sell” rating on the 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.