Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Crosses Above Fifty Day Moving Average – Here’s Why
by Renee Jackson · The Cerbat GemGalmed Pharmaceuticals Ltd. (NASDAQ:GLMD – Get Free Report)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.61 and traded as high as $0.75. Galmed Pharmaceuticals shares last traded at $0.7390, with a volume of 368,089 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Get Our Latest Research Report on GLMD
Galmed Pharmaceuticals Stock Up 2.2%
The stock has a market capitalization of $4.14 million, a P/E ratio of -0.61 and a beta of 0.47. The business has a fifty day moving average price of $0.62 and a 200-day moving average price of $0.90.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP bought a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned about 1.28% of Galmed Pharmaceuticals at the end of the most recent quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.
Galmed Pharmaceuticals Company Profile
Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.
In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.