Insider Buying: Polaryx Therapeutics (NASDAQ:PLYX) CEO Acquires $360,003.71 in Stock

Polaryx Therapeutics, Inc. (NASDAQ:PLYX) CEO Alex Keun Mo Yang bought 88,453 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average cost of $4.07 per share, with a total value of $360,003.71. Following the purchase, the chief executive officer directly owned 24,233,249 shares of the company’s stock, valued at approximately $98,629,323.43. This represents a 0.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Polaryx Therapeutics Stock Up 7.2%

Shares of NASDAQ PLYX opened at $3.27 on Friday. Polaryx Therapeutics, Inc. has a twelve month low of $2.07 and a twelve month high of $48.91. The stock has a 50 day moving average price of $5.02.

Polaryx Therapeutics (NASDAQ:PLYX) last announced its quarterly earnings data on Monday, March 23rd. The company reported ($0.03) earnings per share for the quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Maxim Group assumed coverage on shares of Polaryx Therapeutics in a report on Friday, February 27th. They issued a “buy” rating and a $10.00 price objective for the company. Weiss Ratings assumed coverage on shares of Polaryx Therapeutics in a report on Friday, April 24th. They issued a “sell (e-)” rating for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.00.

About Polaryx Therapeutics

We are a clinical-stage biotechnology company committed to the discovery, development, and commercialization of novel, disease-modifying therapies for rare, pediatric lysosomal storage disorders (“LSDs”). Our therapeutic philosophy is centered on delivering safe, effective, and patient-friendly treatments that address the underlying pathophysiology of these catastrophic diseases and their significant unmet need. Our multi-modal approach integrates small molecule therapies, including a combination therapy, and a gene therapy, positioning us to potentially address both the genetic and downstream pathological features of LSDs.