Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Significant Drop in Short Interest

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 6,200 shares, a decline of 84.9% from the February 29th total of 41,000 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 155,700 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Galmed Pharmaceuticals in a research note on Saturday, March 23rd. They set a “sell” rating on the stock.

Galmed Pharmaceuticals Stock Performance

GLMD remained flat at $0.33 on Thursday. 41,676 shares of the company’s stock were exchanged, compared to its average volume of 152,629. The company has a 50-day moving average price of $0.37 and a 200-day moving average price of $0.42. Galmed Pharmaceuticals has a one year low of $0.26 and a one year high of $7.80.

Institutional Investors Weigh In On Galmed Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new stake in shares of Galmed Pharmaceuticals in the 3rd quarter valued at approximately $155,000. Millennium Management LLC lifted its holdings 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 acquiring an additional 102,351 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew 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 worth $101,000 after acquiring an additional 38,856 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Galmed Pharmaceuticals during the first quarter worth $42,000. 76.14% of the stock is currently 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.