Eliem Therapeutics (NASDAQ:ELYM) Stock Price Down 5.7% – Should You 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 changed hands during mid-day 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 firm has a market capitalization of $39.27 million, a P/E ratio of -2.49 and a beta of -0.39. The business has a fifty day moving average of $1.65 and a 200-day moving average of $3.41.

Institutional Investors Weigh In On Eliem Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in shares of Eliem Therapeutics during the 3rd quarter valued at $56,000. Valence8 US LP purchased a new stake in shares of Eliem Therapeutics in the third quarter valued at $61,000. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 9,672 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Eliem Therapeutics in the third quarter valued at $90,000. Finally, Barclays PLC lifted its holdings in shares of Eliem Therapeutics by 1,428.1% in the third quarter. Barclays PLC now owns 38,859 shares of the company’s stock valued at $198,000 after purchasing an additional 36,316 shares in the last quarter. Institutional investors and hedge funds own 69.76% of the company’s stock.

About Eliem Therapeutics

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.