Polaryx Therapeutics (NASDAQ:PLYX) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Polaryx Therapeutics from “hold” to “sell,” adding a bearish note to the stock’s recent analyst coverage.
• Despite the downgrade, other analysts remain mixed: HC Wainwright initiated coverage with a “buy” rating and a $7.00 price target, while MarketBeat data shows an overall Hold consensus with an average target of $8.50.
• The stock recently traded at $2.33, near its 52-week low of $2.01, and the company reported a ($0.03) EPS in its last quarterly earnings release.

Polaryx Therapeutics (NASDAQ:PLYX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Other research analysts also recently issued research reports about the stock. HC Wainwright assumed coverage on shares of Polaryx Therapeutics in a research report on Thursday. They issued a "buy" rating and a $7.00 price objective on the stock. Weiss Ratings raised shares of Polaryx Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.50.

Polaryx Therapeutics Price Performance

Shares of PLYX traded down $0.10 during trading hours on Friday, hitting $2.33. The company had a trading volume of 129,904 shares, compared to its average volume of 1,141,314. The company has a market cap of $109.58 million and a P/E ratio of -46.60. Polaryx Therapeutics has a one year low of $2.01 and a one year high of $48.91. The business's fifty day moving average price is $2.86.

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

Insider Transactions at Polaryx Therapeutics

In other Polaryx Therapeutics news, CEO Alex Keun Mo Yang purchased 88,453 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $4.07 per share, for a total transaction of $360,003.71. Following the completion of the purchase, the chief executive officer owned 24,233,249 shares in the company, valued at $98,629,323.43. This represents a 0.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.