Why is ERIS Lifescience falling/rising?

As of 02-Jul, ERIS Lifesciences Ltd's stock price is currently at Rs 1,633.60, reflecting a decrease of Rs 53.4 or 3.17%. Today's price summary indicates that the stock opened with a gain of 2.25% but has since fallen after three consecutive days of gains, reaching an intraday low of Rs 1,621. The stock has shown high volatility today, with an intraday fluctuation of 5.43%. Despite a strong year-to-date return of 19.34% and a remarkable 57.24% increase over the past year, the stock has underperformed its sector by 3.25% today. Factors contributing to the recent decline include a significant drop in delivery volume, which fell by 53.42% against the five-day average, indicating reduced investor participation.
In the broader market context, the stock's short-term performance has lagged behind the benchmark Sensex, which has gained 0.79% over the past week compared to ERIS's 0.48% increase. While the company boasts high management efficiency and strong institutional holdings, concerns about poor long-term growth and an expensive valuation relative to its peers may be influencing investor sentiment negatively. The stock's recent performance, despite its historical outperformance, is tempered by a decline in profits over the past year, which has likely contributed to the current downward price movement.