Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Declines By 84.9%

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

Institutional Trading of Galmed Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new position in shares of Galmed Pharmaceuticals in the 3rd quarter valued at $155,000. Millennium Management LLC increased its holdings in Galmed Pharmaceuticals by 218.4% in the 4th 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 in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of 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 buying an additional 38,856 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Galmed Pharmaceuticals during the first quarter valued at approximately $42,000. 76.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Galmed Pharmaceuticals Price Performance

Shares of NASDAQ GLMD remained flat at $0.33 during midday trading on Thursday. 41,676 shares of the stock were exchanged, compared to its average volume of 152,629. The stock’s 50-day simple moving average is $0.37 and its 200 day simple moving average is $0.42. Galmed Pharmaceuticals has a 1-year low of $0.26 and a 1-year high of $7.80.

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.