Polaryx Therapeutics (NASDAQ:PLYX) Posts Earnings Results, Beats Expectations By $0.02 EPS

Polaryx Therapeutics (NASDAQ:PLYX) released its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, FiscalAI reports.

Polaryx Therapeutics Stock Performance

NASDAQ PLYX traded up $0.10 during trading hours on Friday, reaching $2.60. 148,059 shares of the stock traded hands, compared to its average volume of 102,053. The firm has a 50 day moving average price of $2.34. Polaryx Therapeutics has a 1 year low of $1.86 and a 1 year high of $48.91. The firm has a market cap of $129.61 million and a P/E ratio of -52.00.

Insider Buying and Selling at Polaryx Therapeutics

In other news, CEO Alex Keun Mo Yang acquired 88,453 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $4.07 per share, with a total value of $360,003.71. Following the acquisition, the chief executive officer owned 24,233,249 shares in the company, valued at approximately $98,629,323.43. This represents a 0.37% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLYX. Weiss Ratings raised Polaryx Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. Raymond James Financial initiated coverage on shares of Polaryx Therapeutics in a research report on Thursday. They issued a “strong-buy” rating and a $6.00 price objective for the company. HC Wainwright started coverage on shares of Polaryx Therapeutics in a research note on Thursday, July 9th. They set a “buy” rating and a $7.00 price objective for the company. Zacks Research raised shares of Polaryx Therapeutics to a “hold” rating in a report on Friday, July 10th. Finally, Wall Street Zen cut shares of Polaryx Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.67.

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.