Eliem Therapeutics (NASDAQ:ELYM) Trading Down 5.7% – Time to Sell?

Shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM) traded down 5.7% during mid-day trading on Wednesday . The company traded as low as $1.29 and last traded at $1.32. 93,922 shares were traded during trading, a decline of 81% from the average session volume of 486,688 shares. The stock had previously closed at $1.40.

Eliem Therapeutics Stock Performance

The stock has a market cap of $40.17 million, a PE ratio of -2.55 and a beta of -0.39. The firm has a fifty day moving average price of $1.64 and a 200 day moving average price of $3.39.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ELYM. JPMorgan Chase & Co. grew its stake in shares of Eliem Therapeutics by 311.6% during the third quarter. JPMorgan Chase & Co. now owns 12,776 shares of the company’s stock worth $65,000 after acquiring an additional 9,672 shares during the last quarter. Jane Street Group LLC acquired a new position in Eliem Therapeutics during the 3rd quarter valued at approximately $56,000. Valence8 US LP purchased a new position in shares of Eliem Therapeutics in the third quarter worth $61,000. MetLife Investment Management LLC acquired a new stake in shares of Eliem Therapeutics during the third quarter worth $90,000. Finally, Barclays PLC grew its holdings in shares of Eliem Therapeutics by 1,428.1% during the third quarter. Barclays PLC now owns 38,859 shares of the company’s stock valued at $198,000 after buying an additional 36,316 shares during the last quarter. 69.76% of the stock is owned by institutional investors and hedge funds.

Eliem Therapeutics Company 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.