Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.70 and traded as low as $0.5655. Galmed Pharmaceuticals shares last traded at $0.5760, with a volume of 44,446 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Galmed Pharmaceuticals Price Performance

The firm’s 50 day moving average price is $0.64 and its 200 day moving average price is $0.70. The stock has a market capitalization of $3.16 million, a P/E ratio of -0.46 and a beta of 0.73.

Institutional Investors Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned 1.28% of Galmed Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.

In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.