Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Down 37.6% in April

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMDGet Rating) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 31,900 shares, a drop of 37.6% from the April 15th total of 51,100 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 79,700 shares, the short-interest ratio is currently 0.4 days.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates lifted its stake in shares of Galmed Pharmaceuticals by 10.5% in the third quarter. Raymond James & Associates now owns 229,640 shares of the biopharmaceutical company’s stock valued at $641,000 after purchasing an additional 21,775 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Galmed Pharmaceuticals by 27.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,304 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 4,555 shares during the last quarter. Morgan Stanley raised its position in shares of Galmed Pharmaceuticals by 14.3% in the first quarter. Morgan Stanley now owns 185,552 shares of the biopharmaceutical company’s stock valued at $636,000 after buying an additional 23,200 shares during the last quarter. Millennium Management LLC raised its position in shares of Galmed Pharmaceuticals by 308.4% in the fourth quarter. Millennium Management LLC now owns 53,239 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 40,203 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Galmed Pharmaceuticals by 36.2% during the third quarter. Geode Capital Management LLC now owns 27,177 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 7,217 shares during the period. Hedge funds and other institutional investors own 13.37% of the company’s stock.

Shares of NASDAQ:GLMD opened at $0.61 on Friday. The firm’s 50-day simple moving average is $1.39 and its 200-day simple moving average is $1.81. The company has a quick ratio of 6.13, a current ratio of 6.13 and a debt-to-equity ratio of 0.01. Galmed Pharmaceuticals has a fifty-two week low of $0.55 and a fifty-two week high of $4.08.

Galmed Pharmaceuticals (NASDAQ:GLMDGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.06). Equities research analysts expect that Galmed Pharmaceuticals will post -1.37 EPS for the current fiscal year.

GLMD has been the topic of several research reports. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, February 1st. Canaccord Genuity Group lowered their target price on shares of Galmed Pharmaceuticals from $24.00 to $5.00 in a report on Wednesday, May 4th. StockNews.com initiated coverage on shares of Galmed Pharmaceuticals in a report on Friday. They issued a “sell” rating on the stock. Finally, HC Wainwright downgraded shares of Galmed Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday, May 3rd.

Galmed Pharmaceuticals Company Profile (Get Rating)

Galmed Pharmaceuticals Ltd., a clinical-stage 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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