Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.61 and traded as high as $0.75. Galmed Pharmaceuticals shares last traded at $0.7390, with a volume of 368,089 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Galmed Pharmaceuticals currently has an average rating of “Sell”.

Galmed Pharmaceuticals Stock Performance

The firm has a market capitalization of $4.05 million, a price-to-earnings ratio of -0.60 and a beta of 0.47. The business’s 50-day moving average is $0.61 and its two-hundred day moving average is $0.91.

Hedge Funds Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC purchased a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned 3.05% 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.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.

In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.