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

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report issued on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Trading Up 1.6 %

Shares of NASDAQ GLMD opened at $2.56 on Friday. The firm has a market cap of $1.64 million, a PE ratio of -0.15 and a beta of 0.66. Galmed Pharmaceuticals has a 1-year low of $2.23 and a 1-year high of $23.80. The company has a fifty day moving average price of $2.90 and a 200 day moving average price of $3.65.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned approximately 3.97% of Galmed Pharmaceuticals at the end of the most recent reporting period. 76.14% of the stock is owned by institutional investors.

About Galmed Pharmaceuticals

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.