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

StockNews.com began coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report published on Tuesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Stock Performance

Shares of GLMD stock opened at $0.38 on Tuesday. The company has a market capitalization of $1.90 million, a price-to-earnings ratio of -0.12 and a beta of 0.87. Galmed Pharmaceuticals has a one year low of $0.26 and a one year high of $7.80. The company’s 50-day moving average is $0.36 and its 200 day moving average is $0.39.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A number of institutional investors have recently made changes to their positions in GLMD. Millennium Management LLC lifted its position in Galmed Pharmaceuticals by 372.3% in the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 40,003 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Galmed Pharmaceuticals in the first quarter worth $42,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Galmed Pharmaceuticals by 158.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 38,856 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Galmed Pharmaceuticals during the third quarter valued at $155,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

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.