StockNews.com Initiates Coverage on Galmed Pharmaceuticals (NASDAQ:GLMD)

Analysts at StockNews.com began coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a note issued to investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Stock Performance

Shares of NASDAQ:GLMD opened at $1.68 on Friday. The company’s fifty 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 capitalization of $1.08 million, a PE ratio of -0.10 and a beta of 0.72.

Institutional Trading of Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC bought a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned approximately 3.97% of Galmed Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 76.14% of the company’s 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.