Short Interest in Eliem Therapeutics, Inc. (NASDAQ:ELYM) Grows By 4,453.8%

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

Hedge Funds Weigh In On Eliem Therapeutics

An institutional investor recently raised its position in Eliem Therapeutics stock. BML Capital Management LLC lifted its position in shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM) by 22.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,938,263 shares of the company’s stock after purchasing an additional 355,093 shares during the period. Eliem Therapeutics comprises 4.7% of BML Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. BML Capital Management LLC owned approximately 7.15% of Eliem Therapeutics worth $5,098,000 at the end of the most recent quarter. 69.76% of the stock is owned by hedge funds and other institutional investors.

Eliem Therapeutics Stock Performance

Eliem Therapeutics stock traded up $0.14 during trading hours on Thursday, reaching $3.80. 22,910 shares of the company’s stock traded hands, compared to its average volume of 563,182. Eliem Therapeutics has a fifty-two week low of $2.34 and a fifty-two week high of $5.19. The firm’s 50 day moving average is $3.02 and its 200-day moving average is $2.79.

About Eliem Therapeutics

Eliem Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy, and other disorders of the peripheral and central nervous systems. Its lead drug candidate is ETX-123, a Kv7.2/3 potassium channel opener, which is in preclinical for the treatment of neuronal excitability disorders, such as epilepsy, pain, depression, and others; and ETX-155 for the treatment of major depressive disorder and focal onset seizures that is in Phase 2a clinical trial.