Polaryx Therapeutics (NASDAQ:PLYX) Downgraded by Wall Street Zen to “Sell”

Polaryx Therapeutics (NASDAQ:PLYX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Other research analysts also recently issued research reports about the stock. HC Wainwright assumed coverage on shares of Polaryx Therapeutics in a research report on Thursday. They issued a “buy” rating and a $7.00 price objective on the stock. Weiss Ratings raised shares of Polaryx Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.50.

Polaryx Therapeutics Price Performance

Shares of PLYX traded down $0.10 during trading hours on Friday, hitting $2.33. The company had a trading volume of 129,904 shares, compared to its average volume of 1,141,314. The company has a market cap of $109.58 million and a P/E ratio of -46.60. Polaryx Therapeutics has a one year low of $2.01 and a one year high of $48.91. The business’s fifty day moving average price is $2.86.

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

Insider Transactions at Polaryx Therapeutics

In other Polaryx Therapeutics news, CEO Alex Keun Mo Yang purchased 88,453 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was bought 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 in the company, valued at $98,629,323.43. This represents a 0.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

About Polaryx Therapeutics

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.