Eliem Therapeutics, Inc. (NASDAQ:ELYM) Sees Significant Increase in Short Interest

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

Eliem Therapeutics Stock Down 3.4 %

NASDAQ ELYM traded down $0.28 on Tuesday, reaching $7.96. The company had a trading volume of 251,930 shares, compared to its average volume of 415,049. The stock has a market capitalization of $236.83 million, a PE ratio of -15.02 and a beta of -0.35. Eliem Therapeutics has a 12 month low of $2.35 and a 12 month high of $11.55. The firm’s 50 day moving average price is $7.19 and its 200 day moving average price is $6.31.

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

Insider Activity

In other Eliem Therapeutics news, EVP Valerie Morisset sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the sale, the executive vice president now owns 462,956 shares in the company, valued at approximately $3,129,582.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Ra Capital Management, L.P. acquired 13,008,546 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $3.84 per share, with a total value of $49,952,816.64. Following the acquisition, the director now directly owns 23,521,757 shares in the company, valued at approximately $90,323,546.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Valerie Morisset sold 50,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the transaction, the executive vice president now directly owns 462,956 shares in the company, valued at approximately $3,129,582.56. The disclosure for this sale can be found here. Insiders have sold a total of 294,308 shares of company stock valued at $2,136,494 in the last ninety days. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of Eliem Therapeutics

Hedge funds have recently modified their holdings of the company. Affinity Asset Advisors LLC bought a new stake in Eliem Therapeutics in the second quarter worth $11,878,000. Ally Bridge Group NY LLC purchased a new stake in shares of Eliem Therapeutics in the 2nd quarter worth $3,555,000. Renaissance Technologies LLC lifted its position in shares of Eliem Therapeutics by 248.5% during the second quarter. Renaissance Technologies LLC now owns 37,000 shares of the company’s stock valued at $263,000 after buying an additional 26,383 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Eliem Therapeutics in the second quarter valued at approximately $134,000. Finally, Dimensional Fund Advisors LP purchased a new position in Eliem Therapeutics during the 2nd quarter worth $89,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.