Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.37 and traded as low as $4.20. Galmed Pharmaceuticals shares last traded at $4.54, with a volume of 121,399 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Galmed Pharmaceuticals in a research report on Wednesday, October 9th. They set a “sell” rating for the company.

Galmed Pharmaceuticals Stock Down 2.5 %

The firm has a 50 day moving average of $4.81 and a two-hundred day moving average of $4.36. The firm has a market capitalization of $19.83 million, a price-to-earnings ratio of -1.64 and a beta of 0.73.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings data on Wednesday, August 28th. The biopharmaceutical company reported $2.16 earnings per share for the quarter.

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.