Galmed Pharmaceuticals Ltd. (GLMD) is one of the best performing stocks in the health care sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on September 22. Shares of GLMD have climbed 4.61% about 30 minutes into the session to $4.85 after closing the day prior at $4.64. It’s early, but the stock has traded as high as $4.89 and as low as $4.75 so far. Today’s quick advance has come with about 98,599 shares changing hands, compared to an average 30-day volume of 64,792 for Galmed Pharmaceuticals Ltd.. The price is currently below the 30-day volume weighted average price of $4.83 for GLMD.
The share appreciation gives the company a market capitalization of $51.52 million based upon 11.1 million shares outstanding. It also means that GLMD has a price-to-book ratio of 3.57:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of GLMD have traded as low as $3.5 and as high as $10.2. Technical traders will take note that at $4.85, shares of GLMD are trading below their 200-day MA at $5.24 and above their 50-day MA at $4.04. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is GLMD?
Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company. It is engaged in the development and commercialization of oral therapy for the treatment of liver diseases and cholesterol gallstones. The company’s 15 employees are led by CEO Allen Baharaff from the corporate headquarters at 16 Ze'ev Tiomkin Street.
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