Alyeska Investment Group L.P. Sells 1,200,000 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Alyeska Investment Group L.P. cut its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 59.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 823,420 shares of the company's stock after selling 1,200,000 shares during the period. Alyeska Investment Group L.P. owned 1.20% of Amylyx Pharmaceuticals worth $3,113,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock valued at $26,000 after buying an additional 4,883 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Amylyx Pharmaceuticals by 12.0% during the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company's stock valued at $202,000 after purchasing an additional 5,704 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Amylyx Pharmaceuticals by 11.8% during the 4th quarter. Northern Trust Corp now owns 106,564 shares of the company's stock valued at $403,000 after purchasing an additional 11,214 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at approximately $45,000. Finally, Alpine Global Management LLC acquired a new stake in Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. 95.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO James M. Frates sold 10,896 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $37,809.12. Following the completion of the transaction, the chief financial officer now directly owns 290,988 shares of the company's stock, valued at $1,009,728.36. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Camille L. Bedrosian sold 12,425 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $43,114.75. Following the completion of the sale, the insider now owns 194,375 shares in the company, valued at $674,481.25. The trade was a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,980 shares of company stock worth $168,627 in the last ninety days. 11.70% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX traded up $0.16 during mid-day trading on Monday, reaching $4.77. 266,732 shares of the company were exchanged, compared to its average volume of 1,222,644. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $7.27. The business has a 50 day simple moving average of $4.04 and a two-hundred day simple moving average of $4.22. The stock has a market capitalization of $424.49 million, a PE ratio of -1.24 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.03. On average, analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AMLX shares. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. HC Wainwright upped their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Mizuho raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $3.00 to $7.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $9.67.

Amylyx Pharmaceuticals Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.