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

StockNews.com initiated coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research note issued to investors on Thursday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Price Performance

NASDAQ:GLMD opened at $2.29 on Thursday. Galmed Pharmaceuticals has a 1-year low of $1.67 and a 1-year high of $23.80. The company has a 50-day moving average of $2.49 and a 200 day moving average of $3.42. The firm has a market cap of $1.47 million, a PE ratio of -0.14 and a beta of 0.72.

Institutional Trading of Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC bought a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.