Driehaus Capital Management LLC Sells 115,623 Shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM)

Driehaus Capital Management LLC trimmed its position in Eliem Therapeutics, Inc. (NASDAQ:ELYM) by 14.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 696,057 shares of the company’s stock after selling 115,623 shares during the period. Driehaus Capital Management LLC’s holdings in Eliem Therapeutics were worth $4,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in shares of Eliem Therapeutics during the second quarter valued at approximately $59,000. Dimensional Fund Advisors LP purchased a new position in shares of Eliem Therapeutics in the 2nd quarter worth about $89,000. Bank of New York Mellon Corp purchased a new position in shares of Eliem Therapeutics in the 2nd quarter worth about $134,000. Renaissance Technologies LLC boosted its stake in Eliem Therapeutics by 248.5% in the 2nd quarter. Renaissance Technologies LLC now owns 37,000 shares of the company’s stock worth $263,000 after purchasing an additional 26,383 shares in the last quarter. Finally, Ally Bridge Group NY LLC purchased a new stake in Eliem Therapeutics during the 2nd quarter valued at about $3,555,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Insider Buying and Selling

In other Eliem Therapeutics news, EVP Valerie Morisset sold 5,931 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $6.66, for a total transaction of $39,500.46. Following the completion of the transaction, the executive vice president now owns 444,683 shares in the company, valued at $2,961,588.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 294,254 shares of company stock worth $2,137,260. 4.70% of the stock is owned by insiders.

Eliem Therapeutics Stock Performance

Shares of NASDAQ ELYM opened at $4.98 on Monday. The company has a market cap of $148.16 million, a PE ratio of -9.40 and a beta of -0.35. The firm’s 50 day moving average price is $7.15 and its 200-day moving average price is $6.54. Eliem Therapeutics, Inc. has a 52-week low of $2.35 and a 52-week high of $11.55.

Eliem Therapeutics (NASDAQ:ELYM) last announced its earnings results on Wednesday, August 14th. The company reported ($1.81) earnings per share for the quarter.

Eliem Therapeutics Company Profile

Eliem Therapeutics, Inc, a biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in psychiatry, epilepsy, chronic pain, and other disorders of the peripheral and central nervous systems. The company was incorporated in 2018 and is headquartered in Wilmington, Delaware.