Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.49 and traded as low as $0.96. Galmed Pharmaceuticals shares last traded at $1.07, with a volume of 255,992 shares.

Wall Street Analyst Weigh In

GLMD has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Galmed Pharmaceuticals Price Performance

The company has a market cap of $1.77 million, a price-to-earnings ratio of -3.34 and a beta of 0.31. The company’s 50-day simple moving average is $1.26 and its 200-day simple moving average is $1.49.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned about 3.05% of Galmed Pharmaceuticals at the end of the most recent reporting period. 76.14% of the stock is owned by institutional investors and hedge funds.

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.