Polaryx Therapeutics (NASDAQ:PLYX) Stock Rating Lowered by Wall Street Zen

Polaryx Therapeutics (NASDAQ:PLYX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

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

Polaryx Therapeutics Trading Down 4.1%

NASDAQ PLYX traded down $0.10 during trading hours on Friday, reaching $2.33. The stock had a trading volume of 129,904 shares, compared to its average volume of 1,141,314. Polaryx Therapeutics has a 52-week low of $2.01 and a 52-week high of $48.91. The company’s fifty day moving average is $2.86. The stock has a market cap of $109.58 million and a PE ratio of -46.60.

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

Insider Activity

In other news, CEO Alex Keun Mo Yang acquired 88,453 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased 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 of the company’s stock, valued at $98,629,323.43. This trade represents a 0.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Polaryx Therapeutics Company Profile

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.