Ally Bridge Group NY LLC Takes $3.56 Million Position in Eliem Therapeutics, Inc. (NASDAQ:ELYM)

Ally Bridge Group NY LLC purchased a new stake in Eliem Therapeutics, Inc. (NASDAQ:ELYM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 500,000 shares of the company’s stock, valued at approximately $3,555,000. Eliem Therapeutics accounts for about 2.1% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 24th largest holding. Ally Bridge Group NY LLC owned 1.68% of Eliem Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Eliem Therapeutics by 248.5% during the second quarter. Renaissance Technologies LLC now owns 37,000 shares of the company’s stock worth $263,000 after buying an additional 26,383 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Eliem Therapeutics in the 2nd quarter worth approximately $89,000. Rhumbline Advisers bought a new position in shares of Eliem Therapeutics in the 2nd quarter worth $59,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Eliem Therapeutics during the 2nd quarter worth $134,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eliem Therapeutics

In other news, EVP Valerie Morisset sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $6.76, for a total value of $338,000.00. Following the sale, the executive vice president now directly owns 462,956 shares of the company’s stock, valued at approximately $3,129,582.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Valerie Morisset sold 50,000 shares of Eliem Therapeutics stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the transaction, the executive vice president now directly owns 462,956 shares of the company’s stock, valued at approximately $3,129,582.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. acquired 13,008,546 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average price of $3.84 per share, for a total transaction of $49,952,816.64. Following the acquisition, the director now owns 23,521,757 shares of the company’s stock, valued at approximately $90,323,546.88. The disclosure for this purchase can be found here. Insiders sold 294,254 shares of company stock worth $2,137,260 in the last three months. 4.70% of the stock is owned by insiders.

Eliem Therapeutics Stock Performance

Shares of NASDAQ:ELYM opened at $8.43 on Monday. The firm has a market capitalization of $250.81 million, a PE ratio of -15.91 and a beta of -0.35. The firm has a fifty day moving average of $7.26 and a 200 day moving average of $6.43. Eliem Therapeutics, Inc. has a 52-week low of $2.35 and a 52-week high of $11.55.

Eliem Therapeutics (NASDAQ:ELYM) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.81) EPS for the quarter.

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.