Short Interest in Eliem Therapeutics, Inc. (NASDAQ:ELYM) Rises By 552.6%

Eliem Therapeutics, Inc. (NASDAQ:ELYM) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 373,300 shares, an increase of 552.6% from the June 15th total of 57,200 shares. Based on an average daily trading volume, of 918,600 shares, the short-interest ratio is presently 0.4 days. Approximately 0.8% of the company’s stock are sold short.

Eliem Therapeutics Price Performance

ELYM traded down $0.07 on Friday, hitting $7.00. The company had a trading volume of 34,845 shares, compared to its average volume of 466,046. The stock has a market cap of $208.25 million, a price-to-earnings ratio of -13.34 and a beta of -0.33. The company’s fifty day moving average price is $7.93 and its 200 day moving average price is $4.78. Eliem Therapeutics has a 1-year low of $2.35 and a 1-year high of $11.55.

Eliem Therapeutics (NASDAQ:ELYM) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.06) EPS for the quarter.

Insider Transactions at Eliem Therapeutics

In other Eliem Therapeutics news, Director Ra Capital Management, L.P. bought 13,008,546 shares of the stock in a transaction on Thursday, June 27th. The shares were bought at an average price of $3.84 per share, with a total value of $49,952,816.64. Following the purchase, the director now directly owns 23,521,757 shares in the company, valued at approximately $90,323,546.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Ra Capital Management, L.P. bought 13,008,546 shares of the stock in a transaction on Thursday, June 27th. The shares were purchased at an average price of $3.84 per share, for a total transaction of $49,952,816.64. Following the completion of the purchase, the director now directly owns 23,521,757 shares of the company’s stock, valued at approximately $90,323,546.88. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Valerie Morisset sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the sale, the executive vice president now directly owns 462,956 shares of the company’s stock, valued at $3,129,582.56. The disclosure for this sale can be found here. Insiders sold a total of 119,518 shares of company stock valued at $829,111 over the last quarter. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Eliem Therapeutics

A hedge fund recently raised its stake in Eliem Therapeutics stock. BML Capital Management LLC raised its holdings in Eliem Therapeutics, Inc. (NASDAQ:ELYM) by 0.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,193,742 shares of the company’s stock after buying an additional 13,742 shares during the quarter. Eliem Therapeutics accounts for about 4.0% of BML Capital Management LLC’s investment portfolio, making the stock its 7th largest position. BML Capital Management LLC owned about 7.91% of Eliem Therapeutics worth $6,011,000 at the end of the most recent quarter. 69.76% of the stock is owned by institutional investors and hedge funds.

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.