Galmed Pharmaceuticals (NASDAQ:GLMD) Research Coverage Started at StockNews.com

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

Galmed Pharmaceuticals Price Performance

Shares of Galmed Pharmaceuticals stock opened at $0.38 on Tuesday. The firm has a market cap of $1.90 million, a PE ratio of -0.12 and a beta of 0.87. Galmed Pharmaceuticals has a 1 year low of $0.26 and a 1 year high of $7.80. The stock has a fifty day moving average price of $0.36 and a 200-day moving average price of $0.39.

Institutional Trading of Galmed Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in 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 acquiring an additional 38,856 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Galmed Pharmaceuticals in the first quarter valued at approximately $42,000. Millennium Management LLC lifted its stake in Galmed Pharmaceuticals by 372.3% in the second quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 40,003 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Galmed Pharmaceuticals during the third quarter valued at $155,000. Hedge funds and other institutional investors own 76.14% 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.