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

Polaryx Therapeutics, Inc. (NASDAQ:PLYX) was the target of a significant increase in short interest during the month of 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. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 592,085 shares, the short-interest ratio is currently 0.6 days.

Insider Activity

In related 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 acquired at an average price of $4.07 per share, with a total value of $360,003.71. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Polaryx Therapeutics Price Performance

Shares of Polaryx Therapeutics stock traded down $0.05 during trading on Tuesday, hitting $2.29. 62,095 shares of the company’s stock were exchanged, compared to its average volume of 1,318,548. The firm’s 50-day simple moving average is $4.10. Polaryx Therapeutics has a 52-week low of $2.01 and a 52-week high of $48.91.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLYX. Maxim Group began coverage on shares of Polaryx Therapeutics in a report on Friday, February 27th. They issued a “buy” rating and a $10.00 price target for the company. Weiss Ratings began coverage on shares of Polaryx Therapeutics in a report on Friday, April 24th. They issued a “sell (e-)” rating for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Polaryx Therapeutics has a consensus rating of “Hold” and an average target price of $10.00.

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.