Shares on loan in GLMD plunged to 91,586 from over 1.7 million earlier this month. Cost to borrow remains elevated at 168%. No official analyst target price stands.
GLMD closed at $0.63 on April 24, up 1.9% on the day. The stock fell 17% over the week and has gained 6.6% over the past month. Galmed Pharmaceuticals operates in the biotechnology sector with a small market capitalization.
Short interest collapsed 87% in one week. Shares on loan dropped to 91,586 as of April 23 from 330,262 on April 17. The decline marks a dramatic reversal from mid-April when short interest peaked at 1.71 million shares on April 13. Short sellers have covered aggressively since that peak. Days to cover sat at 1.0 as of the latest FINRA report dated April 15, which showed 502,390 shares short.
Cost to borrow remains extreme at 168% despite the covering wave. CTB climbed 11% over the week. The current level is 6,355% higher than the 2.56% reading in late March. CTB hit 256% on April 13 when short interest peaked.
Utilization dropped to 10.2% from 40% a week ago. The April 13 reading of 87% marked the highest utilization since the 52-week peak of 100%. The metric has fallen steadily as short sellers exited.
Maxim Group holds the only active rating. Analyst Naz Rahman downgraded the stock to Hold from Buy on April 4, 2025. No price target accompanies the rating. The firm previously upgraded to Buy in July 2023 under analyst Jason McCarthy, who set a $4 target. That target has since been withdrawn.
The downgrade came after a string of cuts in 2022. HC Wainwright moved to Neutral from Buy in May 2022. Raymond James downgraded to Market Perform from Outperform the same month. Canaccord Genuity dropped coverage to Hold from Buy in August 2022 with a $1 target, down from $5.
Price-to-earnings ratio stands at negative 0.37 as of October 2022 data. Enterprise value sits at negative $14.1 million as of December 2026. EV/EBITDA was 0.09 as of December 2021. The company remains unprofitable.
Factor scores show limited strength. Dividend score ranks at the 32nd percentile. Short score ranks at the 43rd percentile despite recent volatility. Sector score sits at the 29th percentile. Days to cover ranks at the 84th percentile. Utilization ranks at the 55th percentile.
Two Sigma Investments leads institutional holders with 112,147 shares as of December 31, 2025. The firm added 90,947 shares last quarter. Allen Baharaff holds 103,065 shares as of March 18, 2026, a 66,130 share increase.
Citadel Advisors trimmed its stake by 12,315 shares to 38,177. Two Sigma Advisers initiated a 31,491 share position. Multiple insiders expanded holdings in March. Guy Nehemya, Yohai Stenzler, and Doron Cohen each added roughly 15,800 shares.
No upcoming earnings event is currently scheduled. The most recent earnings call occurred on April 10, 2026. The prior report was released March 31, 2026. Watch for any clinical trial updates that could explain the short covering or renewed analyst commentary following the April 2025 downgrade.
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