Galmed Pharmaceuticals (NASDAQ:GLMD) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.97 and traded as low as $2.73. Galmed Pharmaceuticals shares last traded at $2.97, with a volume of 31,645 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Galmed Pharmaceuticals in a research note on Wednesday, October 9th. They set a “sell” rating for the company.

Galmed Pharmaceuticals Stock Performance

The company has a 50 day moving average of $3.34 and a 200 day moving average of $3.97. The stock has a market capitalization of $1.90 million, a price-to-earnings ratio of -0.18 and a beta of 0.75.

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.