Eliem Therapeutics (NASDAQ:ELYM) Price Target Cut to $8.00 by Analysts at Stifel Nicolaus

Eliem Therapeutics (NASDAQ:ELYMGet Rating) had its price objective cut by Stifel Nicolaus from $35.00 to $8.00 in a research note published on Tuesday morning, The Fly reports.

Other research analysts have also issued research reports about the company. Guggenheim lowered Eliem Therapeutics from a buy rating to a neutral rating in a research report on Monday, April 25th. SVB Leerink reduced their price target on Eliem Therapeutics from $13.00 to $9.00 and set an outperform rating for the company in a research report on Monday, July 11th.

Eliem Therapeutics Price Performance

NASDAQ:ELYM opened at $2.95 on Tuesday. Eliem Therapeutics has a 12-month low of $2.52 and a 12-month high of $29.69. The firm has a market capitalization of $78.38 million and a P/E ratio of -0.64. The business has a 50 day simple moving average of $3.66 and a 200 day simple moving average of $6.17.

Eliem Therapeutics (NASDAQ:ELYMGet Rating) last released its quarterly earnings data on Monday, May 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.07. Research analysts anticipate that Eliem Therapeutics will post -1.93 EPS for the current fiscal year.

Institutional Trading of Eliem Therapeutics

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Eliem Therapeutics in the fourth quarter valued at $30,000. New York State Common Retirement Fund acquired a new stake in shares of Eliem Therapeutics in the fourth quarter valued at $35,000. Qube Research & Technologies Ltd acquired a new stake in shares of Eliem Therapeutics in the first quarter valued at $133,000. Chicago Partners Investment Group LLC lifted its holdings in shares of Eliem Therapeutics by 77.9% in the first quarter. Chicago Partners Investment Group LLC now owns 22,209 shares of the company’s stock valued at $81,000 after buying an additional 9,723 shares during the period. Finally, Parkwood LLC acquired a new stake in shares of Eliem Therapeutics in the fourth quarter valued at $320,000. Institutional investors and hedge funds own 67.06% of the company’s stock.

Eliem Therapeutics Company Profile

(Get Rating)

Eliem Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in chronic pain, neuropsychiatry, epilepsy, and other disorders of the peripheral and central nervous systems. Its two lead drug candidates are ETX-810 for chronic pain, which is in Phase IIa clinical trial; and ETX-155 for the treatment of major depressive disorder, perimenopausal depression, and focal onset seizures that is in Phase I clinical trial.

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