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

Equities research analysts at HC Wainwright started coverage on shares of Polaryx Therapeutics (NASDAQ:PLYX) in a research report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 174.51% from the company’s current price.

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.com, the stock presently has an average rating of “Hold” and an average price target of $8.50.

Polaryx Therapeutics Price Performance

NASDAQ PLYX opened at $2.55 on Thursday. The firm has a market cap of $119.93 million and a PE ratio of -51.00. The stock’s 50 day simple moving average is $2.98. Polaryx Therapeutics has a 12-month low of $2.01 and a 12-month high of $48.91.

Polaryx Therapeutics (NASDAQ:PLYX) last posted 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 purchased 88,453 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $4.07 per share, with a total value of $360,003.71. Following the purchase, the chief executive officer directly owned 24,233,249 shares of the company’s stock, valued at $98,629,323.43. The trade was a 0.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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.