Polaryx Therapeutics, Inc. (NASDAQ:PLYX) Short Interest Up 92.8% in May

Polaryx Therapeutics, Inc. (NASDAQ:PLYX) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 347,184 shares, an increase of 92.8% from the May 14th total of 180,109 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 592,085 shares, the short-interest ratio is presently 0.6 days.

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.

Analyst Ratings Changes

Several research firms recently issued reports on PLYX. Maxim Group began coverage on Polaryx Therapeutics in a research report on Friday, February 27th. They set a “buy” rating and a $10.00 price target on the stock. Weiss Ratings began coverage on Polaryx Therapeutics in a research report on Friday, April 24th. They set a “sell (e-)” rating on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

Polaryx Therapeutics Price Performance

PLYX traded down $0.03 on Monday, hitting $2.34. 157,231 shares of the company were exchanged, compared to its average volume of 1,332,210. The stock’s fifty day moving average price is $4.10. Polaryx Therapeutics has a 12 month low of $2.01 and a 12 month high of $48.91.

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

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.