Galmed Pharmaceuticals (NASDAQ:GLMD) Shares Cross Below 200 Day Moving Average of $1.99

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.99 and traded as low as $0.38. Galmed Pharmaceuticals shares last traded at $0.40, with a volume of 11,080 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GLMD shares. Maxim Group raised Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. StockNews.com assumed coverage on Galmed Pharmaceuticals in a report on Thursday. They set a “sell” rating on the stock.

Galmed Pharmaceuticals Stock Up 1.0 %

The firm has a market cap of $683,928.00, a P/E ratio of -0.06 and a beta of 0.95. The firm has a fifty day moving average of $0.50 and a 200-day moving average of $1.94.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A number of institutional investors have recently bought and sold shares of GLMD. Millennium Management LLC grew its position in Galmed Pharmaceuticals by 372.3% during the second quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 40,003 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Galmed Pharmaceuticals in the 1st quarter valued at $42,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Galmed Pharmaceuticals by 158.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 38,856 shares during the last quarter. Institutional investors and hedge funds own 20.89% of the company’s stock.

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.