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

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research note released on Saturday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, Maxim Group restated a “hold” rating on shares of Galmed Pharmaceuticals in a research note on Friday.

Galmed Pharmaceuticals Stock Performance

Shares of Galmed Pharmaceuticals stock opened at $1.34 on Friday. The stock has a market capitalization of $862,960.00, a P/E ratio of -0.08 and a beta of 0.70. Galmed Pharmaceuticals has a 52-week low of $1.28 and a 52-week high of $23.80. The stock’s 50-day simple moving average is $2.22 and its 200 day simple moving average is $3.20.

Hedge Funds Weigh In On 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) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 SEC filing. Hedge funds and other institutional investors 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.