Galmed Pharmaceuticals (NASDAQ:GLMD) Coverage Initiated at StockNews.com

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

Galmed Pharmaceuticals Stock Performance

Shares of GLMD opened at $0.39 on Monday. Galmed Pharmaceuticals has a fifty-two week low of $0.26 and a fifty-two week high of $7.80. The firm has a market cap of $655,032.00, a price-to-earnings ratio of -0.10 and a beta of 0.87. The firm has a 50 day moving average price of $0.36 and a 200-day moving average price of $0.39.

Institutional Trading of Galmed Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Galmed Pharmaceuticals in the 1st quarter valued at about $42,000. Raymond James Financial Services Advisors Inc. increased its stake in Galmed Pharmaceuticals by 158.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 38,856 shares during the period. Millennium Management LLC lifted its position in Galmed Pharmaceuticals by 372.3% in the second 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 last quarter. Finally, Walleye Capital LLC bought a new stake in Galmed Pharmaceuticals in the third quarter valued at approximately $155,000. 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.