Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Sees Large Increase in Short Interest

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 34,200 shares, a growth of 9.6% from the September 15th total of 31,200 shares. Based on an average trading volume of 2,560,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 2.3% of the shares of the stock are sold short.

Galmed Pharmaceuticals Stock Performance

Galmed Pharmaceuticals stock traded down $0.28 during midday trading on Wednesday, hitting $3.64. 159,923 shares of the company’s stock were exchanged, compared to its average volume of 844,837. The company has a market cap of $18.36 million, a P/E ratio of -1.52 and a beta of 0.73. The stock has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $4.36. Galmed Pharmaceuticals has a 52-week low of $2.73 and a 52-week high of $23.80.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Wednesday, August 28th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Galmed Pharmaceuticals in a research report on Wednesday, October 9th. They set a “sell” rating for the company.

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.