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Eliem therapeutics executive sells over $9,000 in company stock By Investing.com

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Eliem Therapeutics, Inc.’s (NASDAQ:ELYM) Chief Accounting Officer, Emily Pimblett, has recently sold a portion of her company stock, according to a new SEC filing. The transactions, which took place on September 20, 2024, involved the sale of 1,182 shares at $8.18 each and another 9 shares at $8.06, totaling approximately $9,741.

The sales were executed under a pre-arranged 10b5-1 trading plan, which Pimblett adopted on April 27, 2024. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time, providing a legal defense against potential accusations of insider trading. The plan in question was set up to cover tax withholding obligations that arose from the vesting and settlement of Pimblett’s Restricted Stock Units (RSUs).

Following these sales, Pimblett’s direct ownership in Eliem Therapeutics stands at 7,564 shares. This latest move comes after a transaction on September 18, where Pimblett converted 5,000 RSUs into the same number of common stock shares, at no cost, effectively increasing her stake in the company without a cash transaction. These RSUs were part of an award that vests over time, contingent upon her continued service to the company.

Investors and market watchers often keep an eye on insider transactions as they can provide valuable insights into an executive’s view of the company’s current valuation and future prospects. However, it’s important to note that these transactions do not necessarily signal a lack of confidence in the company; they could also be part of personal financial planning or diversification strategies.

Eliem Therapeutics, headquartered in Wilmington, Delaware, is a pharmaceutical company specializing in the development of therapies for neurological conditions. The company’s stock is publicly traded on the NASDAQ exchange under the ticker symbol ELYM.

In other recent news, Eliem Therapeutics has undergone significant leadership changes and strategic shifts. Dr. Valerie Morisset, former Executive Vice President of Research and Development and Chief Scientific Officer, has departed from the company, aligning with Eliem’s decision to focus on autoimmune-driven inflammatory diseases. Concurrently, the company appointed Brett Kaplan, previously the Chief Operating Officer, as the principal financial officer following Andrew Levin’s resignation from his role as Executive Chairman.

Eliem Therapeutics also recently appointed Dr. Aoife Brennan as President and CEO, and Dr. Stephen…

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