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

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

Galmed Pharmaceuticals Price Performance

GLMD stock opened at $0.36 on Tuesday. Galmed Pharmaceuticals has a twelve month low of $0.26 and a twelve month high of $7.80. The stock has a market cap of $1.80 million, a P/E ratio of -0.11 and a beta of 0.87. The business’s 50-day moving average price is $0.36 and its 200-day moving average price is $0.39.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Galmed Pharmaceuticals during the 1st quarter valued at about $42,000. Millennium Management LLC raised its stake in Galmed Pharmaceuticals by 372.3% during the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 40,003 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Galmed Pharmaceuticals by 158.9% during the 1st 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, Walleye Capital LLC bought a new stake in Galmed Pharmaceuticals during the 3rd quarter valued at approximately $155,000. 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.