Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 22.8% in October

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 26,400 shares, a decline of 22.8% from the September 30th total of 34,200 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 2,600,000 shares, the days-to-cover ratio is presently 0.0 days.

Galmed Pharmaceuticals Stock Down 2.5 %

GLMD stock opened at $3.93 on Monday. The stock has a market capitalization of $2.52 million, a price-to-earnings ratio of -0.23 and a beta of 0.73. Galmed Pharmaceuticals has a 52-week low of $2.73 and a 52-week high of $23.80. The stock’s fifty day simple moving average is $4.81 and its 200-day simple moving average is $4.36.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its earnings results on Wednesday, August 28th. The biopharmaceutical company reported $2.16 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Galmed Pharmaceuticals in a research note on Wednesday, October 9th. They set 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.