Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Short Interest Up 889.8% in March

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was the recipient of a significant 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. Currently, 3.0% of the shares of the company are sold short. Based on an average trading volume of 820,700 shares, the short-interest ratio is presently 0.1 days.

Galmed Pharmaceuticals Trading Down 3.4 %

GLMD traded down $0.06 on Thursday, reaching $1.68. The stock had a trading volume of 44,050 shares, compared to its average volume of 896,127. The business’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $3.39. Galmed Pharmaceuticals has a 12-month low of $1.66 and a 12-month high of $23.80. The company has a market cap of $1.08 million, a P/E ratio of -0.10 and a beta of 0.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC acquired a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Galmed Pharmaceuticals in a research report on Thursday, March 20th. 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.