Eliem Therapeutics (NASDAQ:ELYM) Stock Price Down 5.7% – Here’s What Happened

Eliem Therapeutics, Inc. (NASDAQ:ELYM)’s stock price was down 5.7% on Wednesday . The company traded as low as $1.29 and last traded at $1.32. Approximately 93,922 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 486,688 shares. The stock had previously closed at $1.40.

Eliem Therapeutics Stock Performance

The company has a market capitalization of $40.17 million, a P/E ratio of -2.55 and a beta of -0.39. The company’s fifty day simple moving average is $1.64 and its 200-day simple moving average is $3.39.

Hedge Funds Weigh In On Eliem Therapeutics

A number of large investors have recently bought and sold shares of ELYM. Ally Bridge Group NY LLC increased its holdings in shares of Eliem Therapeutics by 145.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 1,229,292 shares of the company’s stock valued at $6,257,000 after acquiring an additional 729,292 shares during the period. Point72 Asset Management L.P. purchased a new position in Eliem Therapeutics in the third quarter valued at about $3,008,000. Janus Henderson Group PLC raised its holdings in Eliem Therapeutics by 10.8% in the third quarter. Janus Henderson Group PLC now owns 3,606,495 shares of the company’s stock worth $18,303,000 after purchasing an additional 352,507 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Eliem Therapeutics during the third quarter valued at about $1,419,000. Finally, State Street Corp boosted its holdings in shares of Eliem Therapeutics by 433.9% in the 3rd quarter. State Street Corp now owns 315,036 shares of the company’s stock valued at $1,604,000 after buying an additional 256,029 shares in the last quarter. Institutional investors own 69.76% of the company’s stock.

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.