Short Interest in Polaryx Therapeutics, Inc. (NASDAQ:PLYX) Grows By 92.8%

Polaryx Therapeutics, Inc. (NASDAQ:PLYX) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 347,184 shares, a growth of 92.8% from the May 14th total of 180,109 shares. Based on an average daily volume of 592,085 shares, the short-interest ratio is presently 0.6 days. Approximately 0.7% of the company’s shares are short sold.

Polaryx Therapeutics Stock Down 0.4%

PLYX traded down $0.01 during trading on Friday, hitting $2.37. 50,779 shares of the company’s stock were exchanged, compared to its average volume of 1,345,102. Polaryx Therapeutics has a 1 year low of $2.01 and a 1 year high of $48.91. The stock’s 50 day moving average is $4.20.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings assumed coverage on shares of Polaryx Therapeutics in a research report on Friday, April 24th. They set a “sell (e-)” rating for the company. Maxim Group began coverage on shares of Polaryx Therapeutics in a research note on Friday, February 27th. They set a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

Insider Buying and Selling

In related news, CEO Alex Keun Mo Yang purchased 88,453 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $4.07 per share, with a total value of $360,003.71. Following the completion of the transaction, the chief executive officer owned 24,233,249 shares of the company’s stock, valued at approximately $98,629,323.43. This trade represents a 0.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Polaryx Therapeutics Company Profile

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.