Eliem Therapeutics, Inc. (NASDAQ:ELYM – Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 742,200 shares, an increase of 98.8% from the June 30th total of 373,300 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 307,600 shares, the days-to-cover ratio is currently 2.4 days.
Insider Transactions at Eliem Therapeutics
In other news, EVP Valerie Morisset sold 5,931 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $6.66, for a total transaction of $39,500.46. Following the completion of the sale, the executive vice president now owns 444,683 shares of the company’s stock, valued at approximately $2,961,588.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Valerie Morisset sold 5,931 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $6.66, for a total value of $39,500.46. Following the transaction, the executive vice president now directly owns 444,683 shares in the company, valued at approximately $2,961,588.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ra Capital Management, L.P. bought 13,008,546 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was purchased at an average price of $3.84 per share, for a total transaction of $49,952,816.64. Following the completion of the acquisition, the director now 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 a total of 294,308 shares of company stock valued at $2,136,494 in the last quarter. 4.70% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Eliem Therapeutics
A number of hedge funds have recently made changes to their positions in the business. Cerity Partners LLC bought a new stake in Eliem Therapeutics in the 4th quarter valued at about $37,000. BML Capital Management LLC raised its stake in Eliem Therapeutics by 12.5% in the 4th quarter. BML Capital Management LLC now owns 2,180,000 shares of the company’s stock valued at $5,886,000 after acquiring an additional 241,737 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Eliem Therapeutics in the 2nd quarter valued at about $134,000. 69.76% of the stock is currently owned by institutional investors.
Eliem Therapeutics Stock Down 2.8 %
Eliem Therapeutics (NASDAQ:ELYM – Get Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.06) earnings per share for the quarter.
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.
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