500,000 Shares in Eliem Therapeutics, Inc. (NASDAQ:ELYM) Acquired by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC acquired a new stake in Eliem Therapeutics, Inc. (NASDAQ:ELYM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 500,000 shares of the company's stock, valued at approximately $3,555,000. Eliem Therapeutics makes up approximately 2.1% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 24th biggest holding. Ally Bridge Group NY LLC owned 1.68% of Eliem Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in Eliem Therapeutics by 248.5% in the 2nd quarter. Renaissance Technologies LLC now owns 37,000 shares of the company's stock valued at $263,000 after purchasing an additional 26,383 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Eliem Therapeutics in the 2nd quarter valued at approximately $89,000. Rhumbline Advisers acquired a new stake in shares of Eliem Therapeutics during the 2nd quarter valued at approximately $59,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Eliem Therapeutics during the 2nd quarter valued at approximately $134,000. Hedge funds and other institutional investors own 69.76% of the company's stock.

Eliem Therapeutics Price Performance

Shares of ELYM stock traded down $0.80 during midday trading on Monday, reaching $7.63. 429,685 shares of the company traded hands, compared to its average volume of 439,538. The firm's 50 day simple moving average is $7.26 and its two-hundred day simple moving average is $6.43. Eliem Therapeutics, Inc. has a 1-year low of $2.35 and a 1-year high of $11.55. The firm has a market cap of $227.01 million, a PE ratio of -14.70 and a beta of -0.35.

Eliem Therapeutics (NASDAQ:ELYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($1.81) earnings per share (EPS) for the quarter.

Insider Activity

In other news, EVP Valerie Morisset sold 50,000 shares of Eliem Therapeutics stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of 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 SEC, which is available through this hyperlink. In related news, EVP Valerie Morisset sold 50,000 shares of Eliem Therapeutics stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the transaction, the executive vice president now directly owns 462,956 shares in the company, valued at approximately $3,129,582.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, L.P. acquired 13,008,546 shares of the business's stock in a transaction that occurred on Thursday, June 27th. The shares were bought at an average price of $3.84 per share, with a total value of $49,952,816.64. Following the completion of the transaction, the director now directly owns 23,521,757 shares in the company, valued at $90,323,546.88. The disclosure for this purchase can be found here. In the last three months, insiders sold 294,254 shares of company stock worth $2,137,260. Company insiders own 4.70% of the company's stock.

Eliem Therapeutics 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.