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

Eliem Therapeutics, Inc. (NASDAQ:ELYM) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 43,400 shares, a decrease of 18.4% from the August 15th total of 53,200 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 31,700 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ELYM. Atom Investors LP boosted its position in Eliem Therapeutics by 4.3% during the first quarter. Atom Investors LP now owns 78,886 shares of the company’s stock worth $229,000 after purchasing an additional 3,235 shares in the last quarter. Silverarc Capital Management LLC raised its holdings in shares of Eliem Therapeutics by 1.8% during the 4th quarter. Silverarc Capital Management LLC now owns 409,202 shares of the company’s stock worth $1,502,000 after acquiring an additional 7,114 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Eliem Therapeutics by 77.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 22,209 shares of the company’s stock worth $81,000 after acquiring an additional 9,723 shares during the period. Parkwood LLC raised its holdings in Eliem Therapeutics by 34.4% in the 1st quarter. Parkwood LLC now owns 41,133 shares of the company’s stock valued at $345,000 after buying an additional 10,524 shares during the period. Finally, Two Sigma Securities LLC purchased a new stake in Eliem Therapeutics in the 2nd quarter valued at about $40,000. 61.78% of the stock is owned by institutional investors and hedge funds.

Eliem Therapeutics Stock Down 3.7 %

NASDAQ ELYM opened at $2.61 on Tuesday. The stock’s 50-day moving average price is $2.72 and its 200-day moving average price is $2.95. Eliem Therapeutics has a 52 week low of $2.21 and a 52 week high of $4.75.

Eliem Therapeutics (NASDAQ:ELYM) last announced its earnings results on Thursday, August 10th. The company reported ($0.19) EPS for the quarter.

Eliem Therapeutics Company Profile

Eliem Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy, and other disorders of the peripheral and central nervous systems. Its lead drug candidate is ETX-123, a Kv7.2/3 potassium channel opener, which is in preclinical for the treatment of neuronal excitability disorders, such as epilepsy, pain, depression, and others; and ETX-155 for the treatment of major depressive disorder and focal onset seizures that is in Phase 2a clinical trial.