Ibex Investors LLC increased its holdings in Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 31.9% during the first quarter, HoldingsChannel.com reports. The fund owned 659,526 shares of the biopharmaceutical company’s stock after buying an additional 159,526 shares during the period. Galmed Pharmaceuticals makes up approximately 0.5% of Ibex Investors LLC’s holdings, making the stock its 11th largest holding. Ibex Investors LLC’s holdings in Galmed Pharmaceuticals were worth $5,388,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Galmed Pharmaceuticals in the 4th quarter valued at approximately $33,000. Northern Trust Corp boosted its holdings in Galmed Pharmaceuticals by 16.3% in the 4th quarter. Northern Trust Corp now owns 12,215 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 1,715 shares in the last quarter. Wells Fargo & Company MN purchased a new stake in Galmed Pharmaceuticals in the 3rd quarter valued at approximately $297,000. Deutsche Bank AG purchased a new stake in Galmed Pharmaceuticals in the 4th quarter valued at approximately $229,000. Finally, ETF Managers Group LLC boosted its holdings in Galmed Pharmaceuticals by 48.9% in the 4th quarter. ETF Managers Group LLC now owns 34,656 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 11,382 shares in the last quarter. 36.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of GLMD stock traded up $0.26 during midday trading on Wednesday, reaching $6.92. 9,269 shares of the company traded hands, compared to its average volume of 82,745. Galmed Pharmaceuticals Ltd has a 1-year low of $5.58 and a 1-year high of $27.06. The company has a current ratio of 36.11, a quick ratio of 36.11 and a debt-to-equity ratio of 0.01. The company has a market cap of $143.99 million, a price-to-earnings ratio of -12.81 and a beta of 2.59.
GLMD has been the topic of a number of analyst reports. Zacks Investment Research raised Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Saturday, January 19th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Galmed Pharmaceuticals in a report on Tuesday, February 19th. HC Wainwright reaffirmed a “buy” rating on shares of Galmed Pharmaceuticals in a report on Thursday, March 14th. ValuEngine raised Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, Maxim Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Galmed Pharmaceuticals in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.78.
About Galmed Pharmaceuticals
Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. The company is develops Aramchol, an oral therapy, which is completed ARREST Phase IIb clinical study for the treatment of patients with overweight or obesity, and who are pre-diabetic or type-II-diabetic with non-alcoholic steato-hepatitis.
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