Eliem Therapeutics, Inc. (NASDAQ:ELYM – Get Free Report) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 742,200 shares, a growth of 98.8% from the June 30th total of 373,300 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 307,600 shares, the days-to-cover ratio is currently 2.4 days.
Insiders Place Their Bets
In other Eliem Therapeutics news, EVP Valerie Morisset sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 462,956 shares in the company, valued at approximately $3,129,582.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Valerie Morisset sold 50,000 shares of the company’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 value of $338,000.00. Following the completion of the sale, the executive vice president now owns 462,956 shares in the company, valued at approximately $3,129,582.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 13,008,546 shares of Eliem Therapeutics stock in a transaction that occurred on 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 owns 23,521,757 shares in the company, valued at approximately $90,323,546.88. The disclosure for this purchase can be found here. In the last three months, insiders have sold 294,308 shares of company stock worth $2,136,494. 4.70% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. BML Capital Management LLC increased 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 buying an additional 241,737 shares during the period. Cerity Partners LLC acquired a new position in shares of Eliem Therapeutics during the 4th quarter worth $37,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Eliem Therapeutics during the 2nd quarter worth $134,000. Institutional investors and hedge funds own 69.76% of the company’s stock.
Eliem Therapeutics Stock Performance
Eliem Therapeutics (NASDAQ:ELYM – Get Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.06) EPS 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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