Eliem Therapeutics (NASDAQ:ELYM) Stock Price Down 5.7% – Should You Sell?

Eliem Therapeutics, Inc. (NASDAQ:ELYM)’s share price traded down 5.7% during trading on Wednesday . The stock traded as low as $1.29 and last traded at $1.32. 93,922 shares changed hands 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 Down 5.7 %

The stock has a market capitalization of $39.27 million, a price-to-earnings ratio of -2.49 and a beta of -0.39. The company’s 50-day simple moving average is $1.65 and its 200 day simple moving average is $3.41.

Institutional Investors Weigh In On Eliem Therapeutics

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Eliem Therapeutics by 311.6% in the third quarter. JPMorgan Chase & Co. now owns 12,776 shares of the company’s stock valued at $65,000 after buying an additional 9,672 shares during the period. Barclays PLC raised its position in Eliem Therapeutics by 1,428.1% in the 3rd quarter. Barclays PLC now owns 38,859 shares of the company’s stock worth $198,000 after purchasing an additional 36,316 shares during the last quarter. Jane Street Group LLC bought a new position in Eliem Therapeutics in the 3rd quarter worth approximately $56,000. State Street Corp raised its position in Eliem Therapeutics by 433.9% in the 3rd quarter. State Street Corp now owns 315,036 shares of the company’s stock worth $1,604,000 after purchasing an additional 256,029 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Eliem Therapeutics during the 3rd quarter valued at $3,008,000. 69.76% of the stock is currently owned by institutional investors.

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.