Eliem Therapeutics (NASDAQ:ELYM) Stock Price Up 0.8% - Here's What Happened

Key Points

• Eliem Therapeutics shares rose by 0.8% to $2.40, despite a significant drop in trading volume to approximately 230,134 shares, down 53% from the average daily volume.
• The company focuses on developing therapies for disorders related to neuronal excitability, aiming to address unmet needs in areas such as psychiatry and chronic pain.
• Eliem Therapeutics has a market cap of $71.40 million and a PE ratio of -4.53, indicating potential issues with profitability.

Shares of Eliem Therapeutics, Inc. (NASDAQ:ELYM - Get Free Report) were up 0.8% during mid-day trading on Friday . The company traded as high as $2.42 and last traded at $2.40. Approximately 230,134 shares changed hands during trading, a decline of 53% from the average daily volume of 486,688 shares. The stock had previously closed at $2.38.

Eliem Therapeutics Stock Performance

The stock has a fifty day simple moving average of $1.88 and a 200-day simple moving average of $1.48. The stock has a market cap of $63.07 million, a P/E ratio of -4.00 and a beta of -0.39.

About Eliem Therapeutics

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.