Galmed Pharmaceuticals (NASDAQ:GLMD) Now Covered by StockNews.com

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

Galmed Pharmaceuticals Stock Performance

Shares of GLMD opened at $0.36 on Tuesday. The firm has a market capitalization of $1.80 million, a P/E ratio of -0.11 and a beta of 0.87. The stock’s fifty day simple moving average is $0.36 and its 200 day simple moving average is $0.39. Galmed Pharmaceuticals has a twelve month low of $0.26 and a twelve month high of $7.80.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Walleye Capital LLC purchased a new position in Galmed Pharmaceuticals in the third quarter valued at about $155,000. Millennium Management LLC raised its position in Galmed Pharmaceuticals by 218.4% in the fourth quarter. Millennium Management LLC now owns 149,217 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 102,351 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Galmed Pharmaceuticals by 158.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 38,856 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Galmed Pharmaceuticals in the first quarter valued at about $42,000. 76.14% of the stock is owned by hedge funds and other institutional investors.

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.