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

StockNews.com started coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMDFree Report) in a research report sent to investors on Friday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Price Performance

NASDAQ:GLMD opened at $0.31 on Friday. The firm has a 50 day simple moving average of $0.38 and a 200-day simple moving average of $0.44. The firm has a market cap of $512,568.00, a PE ratio of -0.08 and a beta of 0.88. Galmed Pharmaceuticals has a 1-year low of $0.26 and a 1-year high of $7.80.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in shares of Galmed Pharmaceuticals in the third quarter valued at approximately $155,000. Millennium Management LLC raised its position in shares of Galmed Pharmaceuticals by 218.4% in the fourth quarter. Millennium Management LLC now owns 149,217 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 102,351 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Galmed Pharmaceuticals in the first quarter valued at approximately $42,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Galmed Pharmaceuticals by 158.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 38,856 shares during the last quarter. Institutional investors and hedge funds own 20.89% of the company’s stock.

About Galmed Pharmaceuticals

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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.

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