Home / Healthcare / Health Care Firm Galmed Pharmaceuticals Ltd. (GLMD) Advances 10.99% at Midday on September 22

Health Care Firm Galmed Pharmaceuticals Ltd. (GLMD) Advances 10.99% at Midday on September 22

Galmed Pharmaceuticals Ltd. (GLMD) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 22. At the lunch break, shares of GLMD have clocked gains of 10.99% to $5.15 after closing the day prior at $4.64. In the first two and a half hours of trading, the stock has gone as high as $5.34 and as low as $4.75. Today’s rise has come with about 910,562 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 $5.05 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.

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 $5.15, 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 in Tel Aviv, .

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