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

StockNews.com initiated coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report sent to investors on Sunday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Stock Up 2.7 %

GLMD stock opened at $0.32 on Friday. The company has a market capitalization of $545,160.00, a price-to-earnings ratio of -0.09 and a beta of 0.87. Galmed Pharmaceuticals has a 12 month low of $0.26 and a 12 month high of $7.80. The firm has a 50 day moving average of $0.36 and a two-hundred day moving average of $0.40.

Institutional Trading of Galmed Pharmaceuticals

Several large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Galmed Pharmaceuticals during the 1st quarter worth $42,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Galmed Pharmaceuticals by 158.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 38,856 shares during the period. Millennium Management LLC boosted its holdings in shares of Galmed Pharmaceuticals by 372.3% during the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 40,003 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Galmed Pharmaceuticals during the 3rd quarter worth $155,000. 76.14% of the stock is owned by institutional investors.

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.