StockNews.com Begins Coverage on Galmed Pharmaceuticals (NASDAQ:GLMD)

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

Galmed Pharmaceuticals Stock Performance

Shares of GLMD opened at $1.59 on Friday. The stock has a 50 day simple moving average of $2.37 and a 200 day simple moving average of $3.36. Galmed Pharmaceuticals has a 52-week low of $1.38 and a 52-week high of $23.80. The firm has a market capitalization of $1.02 million, a PE ratio of -0.10 and a beta of 0.72.

Institutional Investors Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC purchased a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned 3.97% of Galmed Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

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.