Galmed Pharmaceuticals (NASDAQ:GLMD) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Stock Down 9.3 %

GLMD opened at $0.38 on Tuesday. Galmed Pharmaceuticals has a 52-week low of $0.26 and a 52-week high of $7.80. The company has a market cap of $1.92 million, a P/E ratio of -0.12 and a beta of 0.87. The firm’s 50-day moving average price is $0.36 and its 200-day moving average price is $0.39.

Hedge Funds Weigh In On Galmed Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of GLMD. Walleye Capital LLC acquired a new position in Galmed Pharmaceuticals in the 3rd quarter worth approximately $155,000. Millennium Management LLC increased its holdings in Galmed Pharmaceuticals by 218.4% in the 4th quarter. Millennium Management LLC now owns 149,217 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 102,351 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Galmed Pharmaceuticals by 158.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 38,856 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Galmed Pharmaceuticals in the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 76.14% of the company’s stock.

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.