Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Rises By 889.8%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 48,500 shares, an increase of 889.8% from the February 28th total of 4,900 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 820,700 shares, the short-interest ratio is currently 0.1 days.

Galmed Pharmaceuticals Stock Performance

NASDAQ:GLMD opened at $1.68 on Friday. The firm’s 50-day moving average is $2.40 and its 200-day moving average is $3.38. Galmed Pharmaceuticals has a 52-week low of $1.65 and a 52-week high of $23.80. The company has a market cap of $1.08 million, a price-to-earnings ratio of -0.10 and a beta of 0.72.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned 3.97% of Galmed Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Galmed Pharmaceuticals in a research note on Friday. They issued a “sell” rating on the 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.