Short Interest in Polaryx Therapeutics, Inc. (NASDAQ:PLYX) Grows By 92.8%

Polaryx Therapeutics, Inc. (NASDAQ:PLYX) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 347,184 shares, a growth of 92.8% from the May 14th total of 180,109 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 592,085 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Ratings Changes

Several brokerages have recently weighed in on PLYX. Weiss Ratings began coverage on shares of Polaryx Therapeutics in a research note on Friday, April 24th. They issued a “sell (e-)” rating for the company. Maxim Group began coverage on shares of Polaryx Therapeutics in a research note on Friday, February 27th. They issued a “buy” rating and a $10.00 target price for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Polaryx Therapeutics presently has a consensus rating of “Hold” and an average price target of $10.00.

Polaryx Therapeutics Trading Down 0.4%

Shares of PLYX stock traded down $0.01 on Friday, hitting $2.37. The stock had a trading volume of 50,779 shares, compared to its average volume of 1,345,102. The business has a 50 day simple moving average of $4.20. Polaryx Therapeutics has a 52-week low of $2.01 and a 52-week high of $48.91.

Polaryx Therapeutics (NASDAQ:PLYX) last announced its earnings results on Monday, March 23rd. The company reported ($0.03) earnings per share for the quarter.

Insider Buying and Selling at Polaryx Therapeutics

In other news, CEO Alex Keun Mo Yang bought 88,453 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $4.07 per share, for a total transaction of $360,003.71. Following the completion of the purchase, the chief executive officer owned 24,233,249 shares of the company’s stock, valued at $98,629,323.43. This trade represents a 0.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Polaryx Therapeutics Company Profile

We are a clinical-stage biotechnology company committed to the discovery, development, and commercialization of novel, disease-modifying therapies for rare, pediatric lysosomal storage disorders (“LSDs”). Our therapeutic philosophy is centered on delivering safe, effective, and patient-friendly treatments that address the underlying pathophysiology of these catastrophic diseases and their significant unmet need. Our multi-modal approach integrates small molecule therapies, including a combination therapy, and a gene therapy, positioning us to potentially address both the genetic and downstream pathological features of LSDs.