Eliem Therapeutics (NASDAQ:ELYM) Trading Up 4.6%

Eliem Therapeutics, Inc. (NASDAQ:ELYM)’s share price rose 4.6% on Thursday . The stock traded as high as $7.65 and last traded at $7.57. Approximately 321,772 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 421,653 shares. The stock had previously closed at $7.24.

Eliem Therapeutics Price Performance

The business has a 50 day moving average price of $7.02 and a 200 day moving average price of $6.00. The stock has a market capitalization of $219.87 million, a PE ratio of -13.94 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 (EPS) for the quarter.

Insider Transactions at Eliem Therapeutics

In other Eliem Therapeutics news, EVP Valerie Morisset sold 69,005 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $8.03, for a total value of $554,110.15. Following the transaction, the executive vice president now owns 31,317 shares of the company’s stock, valued at $251,475.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Eliem Therapeutics news, Director Ra Capital Management, L.P. acquired 13,008,546 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average price of $3.84 per share, with a total value of $49,952,816.64. Following the transaction, 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 document filed with the SEC, which can be accessed through this link. Also, EVP Valerie Morisset sold 69,005 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was 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 of the company’s stock, valued at $251,475.51. The disclosure for this sale can be found here. Insiders have sold a total of 294,308 shares of company stock worth $2,136,494 in the last ninety days. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Eliem Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELYM. Affinity Asset Advisors LLC purchased a new stake in Eliem Therapeutics in the 2nd quarter worth $11,878,000. Ally Bridge Group NY LLC purchased a new stake in shares of Eliem Therapeutics during the second quarter worth about $3,555,000. Renaissance Technologies LLC raised its stake in Eliem Therapeutics by 248.5% during the 2nd quarter. Renaissance Technologies LLC now owns 37,000 shares of the company’s stock valued at $263,000 after purchasing an additional 26,383 shares during the period. Bank of New York Mellon Corp bought a new stake in Eliem Therapeutics during the 2nd quarter valued at approximately $134,000. Finally, Dimensional Fund Advisors LP bought a new position in Eliem Therapeutics in the 2nd quarter worth approximately $89,000. Institutional investors own 69.76% of the company’s stock.

About Eliem Therapeutics

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.