Polaryx Therapeutics (NASDAQ:PLYX) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Polaryx Therapeutics (NASDAQ:PLYX) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $7.00 price target on the stock.

Separately, Weiss Ratings upgraded shares of Polaryx Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.50.

Polaryx Therapeutics Trading Down 4.7%

Shares of NASDAQ PLYX opened at $2.43 on Thursday. The firm has a market capitalization of $114.28 million and a price-to-earnings ratio of -48.60. The firm has a 50-day moving average of $2.92. Polaryx Therapeutics has a 52-week low of $2.01 and a 52-week high of $48.91.

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

Insider Buying and Selling

In other news, CEO Alex Keun Mo Yang bought 88,453 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $4.07 per share, for a total transaction of $360,003.71. Following the acquisition, the chief executive officer directly 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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.