Eliem Therapeutics (NASDAQ:ELYM) Shares Down 3.4% – What’s Next?

Shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM) fell 3.4% on Tuesday . The stock traded as low as $1.42 and last traded at $1.42. 342,122 shares were traded during trading, a decline of 30% from the average session volume of 486,688 shares. The stock had previously closed at $1.47.

Eliem Therapeutics Price Performance

The company’s 50-day moving average is $1.86 and its 200-day moving average is $3.93. The firm has a market capitalization of $42.25 million, a price-to-earnings ratio of -2.68 and a beta of -0.39.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ELYM. Jane Street Group LLC purchased a new stake in Eliem Therapeutics during the third quarter worth approximately $56,000. SG Americas Securities LLC purchased a new position in Eliem Therapeutics in the 3rd quarter worth approximately $60,000. Valence8 US LP acquired a new stake in Eliem Therapeutics in the third quarter valued at approximately $61,000. JPMorgan Chase & Co. raised its stake in shares of Eliem Therapeutics by 311.6% during the third quarter. JPMorgan Chase & Co. now owns 12,776 shares of the company’s stock valued at $65,000 after purchasing an additional 9,672 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Eliem Therapeutics during the third quarter valued at approximately $81,000. 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.