Eliem Therapeutics (NASDAQ:ELYM) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Eliem Therapeutics (NASDAQ:ELYMGet Rating) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. The firm currently has $9.50 price objective on the stock.

According to Zacks, “Eliem Therapeutics Inc. is a clinical-stage biotechnology company. It focused on developing novel therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy and other disorders of the peripheral and central nervous systems. Eliem Therapeutics Inc. is based in SEATTLE, United Kingdom. “

NASDAQ ELYM opened at $8.30 on Friday. The company has a 50-day simple moving average of $9.02 and a two-hundred day simple moving average of $11.77. Eliem Therapeutics has a 12-month low of $7.97 and a 12-month high of $29.69.

Eliem Therapeutics (NASDAQ:ELYMGet Rating) last posted its quarterly earnings results on Monday, March 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.30. Sell-side analysts predict that Eliem Therapeutics will post -2.61 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. purchased a new stake in Eliem Therapeutics during the third quarter valued at about $236,452,000. Samlyn Capital LLC boosted its holdings in shares of Eliem Therapeutics by 1.3% during the fourth quarter. Samlyn Capital LLC now owns 1,703,546 shares of the company’s stock worth $17,818,000 after purchasing an additional 22,521 shares during the period. BlackRock Inc. boosted its holdings in shares of Eliem Therapeutics by 7.3% during the fourth quarter. BlackRock Inc. now owns 356,444 shares of the company’s stock worth $3,728,000 after purchasing an additional 24,318 shares during the period. Monashee Investment Management LLC purchased a new stake in shares of Eliem Therapeutics during the third quarter worth about $5,488,000. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Eliem Therapeutics during the third quarter worth about $5,166,000. Institutional investors and hedge funds own 65.12% of the company’s stock.

About Eliem Therapeutics (Get Rating)

Eliem Therapeutics Inc is a clinical-stage biotechnology company. It focused on developing novel therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy and other disorders of the peripheral and central nervous systems. Eliem Therapeutics Inc is based in SEATTLE, United Kingdom.

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