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

Stock analysts at StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report issued on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Price Performance

Shares of NASDAQ:GLMD opened at $2.56 on Friday. The company’s 50-day moving average price is $2.90 and its two-hundred day moving average price is $3.65. Galmed Pharmaceuticals has a one year low of $2.23 and a one year high of $23.80. The stock has a market capitalization of $1.64 million, a PE ratio of -0.15 and a beta of 0.66.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 filing with the SEC. 76.14% of the stock is currently owned by institutional investors and hedge funds.

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.