Eliem Therapeutics, Inc. (NASDAQ:ELYM) Sees Significant Growth in Short Interest

Eliem Therapeutics, Inc. (NASDAQ:ELYM) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 601,100 shares, a growth of 4,453.8% from the March 31st total of 13,200 shares. Based on an average daily volume of 665,800 shares, the short-interest ratio is currently 0.9 days. Approximately 3.3% of the company’s shares are sold short.

Eliem Therapeutics Stock Down 7.4 %

NASDAQ ELYM opened at $3.39 on Friday. The company has a market capitalization of $93.97 million, a price-to-earnings ratio of -2.31 and a beta of 0.51. Eliem Therapeutics has a twelve month low of $2.34 and a twelve month high of $5.19. The stock has a fifty day simple moving average of $3.04 and a 200 day simple moving average of $2.79.

Institutional Trading of Eliem Therapeutics

A hedge fund recently raised its stake in Eliem Therapeutics stock. BML Capital Management LLC raised its position in shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,193,742 shares of the company’s stock after acquiring an additional 13,742 shares during the quarter. Eliem Therapeutics comprises 4.0% of BML Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. BML Capital Management LLC owned about 7.91% of Eliem Therapeutics worth $6,011,000 at the end of the most recent quarter. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.