Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD – Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.53 and traded as high as $5.4501. Galmed Pharmaceuticals shares last traded at $4.77, with a volume of 225,638 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.
Check Out Our Latest Stock Analysis on GLMD
Galmed Pharmaceuticals Price Performance
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned 1.28% of Galmed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 76.14% of the stock is owned by institutional investors and hedge funds.
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.
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