Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Increases By 386.5%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 146,971 shares, an increase of 386.5% from the July 15th total of 30,212 shares. Based on an average trading volume of 1,526,313 shares, the short-interest ratio is presently 0.1 days. Approximately 2.8% of the shares of the company are short sold.

Galmed Pharmaceuticals Stock Down 2.1%

Galmed Pharmaceuticals stock traded down $0.01 during trading hours on Friday, hitting $0.52. 14,051 shares of the company traded hands, compared to its average volume of 1,538,835. Galmed Pharmaceuticals has a 1-year low of $0.41 and a 1-year high of $1.65. The firm has a market cap of $3.43 million, a P/E ratio of -0.57 and a beta of 0.74. The firm’s 50-day simple moving average is $0.57 and its two-hundred day simple moving average is $0.61.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned approximately 1.28% of Galmed Pharmaceuticals as of its most recent filing with the SEC. 76.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.

In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.