Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.13 and traded as low as $1.66. Galmed Pharmaceuticals shares last traded at $1.78, with a volume of 592,315 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GLMD. Maxim Group reaffirmed a “hold” rating on shares of Galmed Pharmaceuticals in a research report on Friday, April 4th. Wall Street Zen raised shares of Galmed Pharmaceuticals to a “sell” rating in a research report on Saturday, May 24th.

Galmed Pharmaceuticals Trading Up 6.6%

The firm’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $2.13. The firm has a market cap of $2.94 million, a price-to-earnings ratio of -0.11 and a beta of 0.51.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its earnings results on Thursday, May 22nd. The biopharmaceutical company reported ($0.62) EPS for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned 3.97% of Galmed Pharmaceuticals as of its most recent SEC filing. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

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.