Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) Short Interest Down 9.4% in November

Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) was the target of a significant drop in short interest during the month of November. As of November 29th, there was short interest totalling 438,700 shares, a drop of 9.4% from the November 14th total of 484,000 shares. Approximately 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 109,200 shares, the short-interest ratio is currently 4.0 days.

NASDAQ GLMD traded down $0.08 during mid-day trading on Friday, reaching $6.06. 86,465 shares of the stock were exchanged, compared to its average volume of 170,234. Galmed Pharmaceuticals has a one year low of $3.42 and a one year high of $9.37. The stock has a 50 day simple moving average of $4.81 and a 200-day simple moving average of $5.34. The stock has a market cap of $129.05 million, a P/E ratio of -11.22 and a beta of 2.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 22.78 and a quick ratio of 22.78.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.11. Sell-side analysts anticipate that Galmed Pharmaceuticals will post -0.93 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of GLMD. Premier Asset Management LLC acquired a new stake in Galmed Pharmaceuticals in the second quarter worth $572,000. Delek Group Ltd. grew its holdings in Galmed Pharmaceuticals by 15.5% in the second quarter. Delek Group Ltd. now owns 24,552 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 3,300 shares during the period. Tower Research Capital LLC TRC grew its holdings in Galmed Pharmaceuticals by 796.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 4,626 shares during the period. ETF Managers Group LLC grew its holdings in Galmed Pharmaceuticals by 34.7% in the second quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock worth $282,000 after purchasing an additional 11,649 shares during the period. Finally, Rock Creek Group LP acquired a new stake in Galmed Pharmaceuticals in the second quarter worth $420,000. Institutional investors and hedge funds own 34.66% of the company’s stock.

A number of equities analysts recently weighed in on GLMD shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Galmed Pharmaceuticals in a research note on Friday, October 18th. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Tuesday, November 12th. ValuEngine downgraded shares of Galmed Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 10th. Maxim Group reissued a “buy” rating and set a $10.00 target price on shares of Galmed Pharmaceuticals in a research note on Thursday, November 7th. Finally, Canaccord Genuity started coverage on shares of Galmed Pharmaceuticals in a research note on Monday, December 2nd. They set a “buy” rating for the company. Seven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $25.35.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. The company is develops Aramchol, an oral therapy, which is completed ARREST Phase IIb clinical study for the treatment of patients with overweight or obesity, and who are pre-diabetic or type-II-diabetic with non-alcoholic steato-hepatitis.

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