Short Interest in Eliem Therapeutics, Inc. (NASDAQ:ELYM) Rises By 5.6%

Eliem Therapeutics, Inc. (NASDAQ:ELYM) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,130,000 shares, a growth of 5.6% from the August 15th total of 1,070,000 shares. Based on an average daily volume of 239,800 shares, the short-interest ratio is currently 4.7 days. Currently, 2.2% of the company’s shares are sold short.

Insider Buying and Selling

In other news, EVP Valerie Morisset sold 69,005 shares of Eliem Therapeutics stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.03, for a total value of $554,110.15. Following the completion of the sale, the executive vice president now owns 31,317 shares in the company, valued at approximately $251,475.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Valerie Morisset sold 69,005 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.03, for a total transaction of $554,110.15. Following the transaction, the executive vice president now owns 31,317 shares of the company’s stock, valued at approximately $251,475.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ra Capital Management, L.P. bought 13,008,546 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was purchased at an average cost of $3.84 per share, with a total value of $49,952,816.64. Following the completion of the transaction, the director now directly owns 23,521,757 shares in the company, valued at $90,323,546.88. The disclosure for this purchase can be found here. Insiders sold 293,063 shares of company stock valued at $2,127,517 over the last 90 days. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Eliem Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers bought a new stake in Eliem Therapeutics during the 2nd quarter worth approximately $59,000. Dimensional Fund Advisors LP bought a new position in shares of Eliem Therapeutics in the second quarter valued at approximately $89,000. Bank of New York Mellon Corp purchased a new position in shares of Eliem Therapeutics during the second quarter valued at approximately $134,000. Renaissance Technologies LLC grew its holdings in Eliem Therapeutics by 248.5% during the second quarter. Renaissance Technologies LLC now owns 37,000 shares of the company’s stock worth $263,000 after buying an additional 26,383 shares in the last quarter. Finally, Ally Bridge Group NY LLC purchased a new stake in Eliem Therapeutics in the 2nd quarter valued at $3,555,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

Eliem Therapeutics Trading Up 3.3 %

Shares of ELYM traded up $0.26 during trading hours on Thursday, reaching $8.24. The stock had a trading volume of 44,071 shares, compared to its average volume of 412,955. The firm has a 50-day simple moving average of $7.19 and a 200 day simple moving average of $6.31. Eliem Therapeutics has a 12 month low of $2.35 and a 12 month high of $11.55. The company has a market capitalization of $245.16 million, a price-to-earnings ratio of -15.06 and a beta of -0.35.

Eliem Therapeutics (NASDAQ:ELYM) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.81) earnings per share for the quarter.

Eliem Therapeutics Company Profile

Eliem Therapeutics, Inc, a biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in psychiatry, epilepsy, chronic pain, and other disorders of the peripheral and central nervous systems. The company was incorporated in 2018 and is headquartered in Wilmington, Delaware.