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

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMDFree Report) in a research note released on Sunday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Stock Performance

NASDAQ:GLMD opened at $0.33 on Friday. The stock’s fifty day moving average is $0.36 and its 200 day moving average is $0.40. Galmed Pharmaceuticals has a fifty-two week low of $0.26 and a fifty-two week high of $7.80. The firm has a market capitalization of $549,528.00, a PE ratio of -0.09 and a beta of 0.87.

Hedge Funds Weigh In On Galmed Pharmaceuticals

Several hedge funds have recently bought and sold shares of GLMD. Walleye Capital LLC bought a new position in shares of Galmed Pharmaceuticals during the 3rd quarter worth $155,000. Raymond James Financial Services Advisors Inc. grew its holdings in Galmed Pharmaceuticals by 158.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 38,856 shares during the period. Millennium Management LLC grew its holdings in Galmed Pharmaceuticals by 218.4% during the fourth quarter. Millennium Management LLC now owns 149,217 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 102,351 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Galmed Pharmaceuticals in the first quarter valued at approximately $42,000. Institutional investors own 76.14% 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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