Eliem Therapeutics, Inc. (NASDAQ:ELYM) Sees Significant Growth in Short Interest

Eliem Therapeutics, Inc. (NASDAQ:ELYM) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 601,100 shares, an increase of 4,453.8% from the March 31st total of 13,200 shares. Based on an average trading volume of 665,800 shares, the short-interest ratio is currently 0.9 days. Currently, 3.3% of the company’s shares are short sold.

Institutional Trading of Eliem Therapeutics

A hedge fund recently raised its stake in Eliem Therapeutics stock. BML Capital Management LLC raised its position in Eliem Therapeutics, Inc. (NASDAQ:ELYM) by 22.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,938,263 shares of the company’s stock after purchasing an additional 355,093 shares during the quarter. Eliem Therapeutics accounts for approximately 4.7% of BML Capital Management LLC’s holdings, making the stock its 8th largest holding. BML Capital Management LLC owned 7.15% of Eliem Therapeutics worth $5,098,000 at the end of the most recent reporting period. Institutional investors own 69.76% of the company’s stock.

Eliem Therapeutics Trading Down 7.4 %

ELYM stock opened at $3.39 on Friday. The business’s 50-day moving average price is $3.04 and its two-hundred day moving average price is $2.79. The firm has a market cap of $93.97 million, a PE ratio of -2.31 and a beta of 0.51. Eliem Therapeutics has a 1-year low of $2.34 and a 1-year high of $5.19.

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.