Eliem Therapeutics (NASDAQ:ELYM) Trading Up 4.6%

Eliem Therapeutics, Inc. (NASDAQ:ELYM - Get Free Report) shares shot up 4.6% on Thursday . The stock traded as high as $7.65 and last traded at $7.57. 321,772 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 421,653 shares. The stock had previously closed at $7.24.

Eliem Therapeutics Trading Down 2.4 %

The firm has a market cap of $219.87 million, a P/E ratio of -13.94 and a beta of -0.32. The company has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $6.00.

Insider Buying and Selling

In other news, EVP Valerie Morisset sold 69,005 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $8.03, for a total value of $554,110.15. Following the sale, the executive vice president now directly owns 31,317 shares in the company, valued at approximately $251,475.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Eliem Therapeutics news, EVP Valerie Morisset sold 69,005 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $8.03, for a total transaction of $554,110.15. Following the completion of the sale, the executive vice president now owns 31,317 shares of the company's stock, valued at approximately $251,475.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. acquired 13,008,546 shares of the stock in a transaction dated Thursday, June 27th. The stock was acquired at an average cost of $3.84 per share, with a total value of $49,952,816.64. Following the completion of 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. Over the last three months, insiders have sold 294,308 shares of company stock valued at $2,136,494. 4.70% of the stock is owned by company insiders.

Institutional Trading of Eliem Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in Eliem Therapeutics during the 2nd quarter valued at $89,000. Renaissance Technologies LLC lifted its position in shares of Eliem Therapeutics by 248.5% during the 2nd quarter. Renaissance Technologies LLC now owns 37,000 shares of the company's stock worth $263,000 after buying an additional 26,383 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Eliem Therapeutics during the 2nd quarter worth approximately $59,000. Bank of New York Mellon Corp bought a new position in shares of Eliem Therapeutics in the second quarter valued at approximately $134,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Eliem Therapeutics during the second quarter valued at approximately $11,878,000. Institutional investors own 69.76% of the company's stock.

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.