Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Amylyx Pharmaceuticals, Inc. has received an average rating of "Moderate Buy" from analysts, with nine out of fourteen rating firms assigning a buy or strong buy rating.
• The company's current market cap is $1.35 billion, with shares trading at approximately $15.17, reflecting a significant increase from its fifty-two week low of $2.60.
• Insider selling occurred recently, with CFO James M. Frates selling over 10,000 shares, indicating a decrease in their ownership position by 3.63%.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) has earned an average rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.75.

A number of equities research analysts have recently weighed in on AMLX shares. Jefferies Financial Group started coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "hold" rating for the company. UBS Group upgraded shares of Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Bank of America upped their price target on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Finally, Robert W. Baird upped their price target on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX opened at $15.17 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -6.07 and a beta of -0.33. Amylyx Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $15.94. The firm has a 50 day moving average price of $11.41 and a 200-day moving average price of $7.65.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). As a group, equities research analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In related news, CFO James M. Frates sold 10,558 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $14.65, for a total transaction of $154,674.70. Following the completion of the sale, the chief financial officer directly owned 280,430 shares in the company, valued at $4,108,299.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Camille L. Bedrosian sold 12,039 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total transaction of $175,528.62. Following the sale, the insider owned 182,336 shares of the company's stock, valued at $2,658,458.88. This represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,333 shares of company stock worth $1,319,495 over the last ninety days. Insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its position in Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company's stock valued at $56,408,000 after purchasing an additional 3,102,395 shares during the period. Perceptive Advisors LLC grew its position in Amylyx Pharmaceuticals by 0.4% during the 2nd quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company's stock valued at $50,654,000 after purchasing an additional 28,017 shares during the last quarter. Saturn V Capital Management LP grew its position in Amylyx Pharmaceuticals by 34.4% during the 2nd quarter. Saturn V Capital Management LP now owns 3,260,570 shares of the company's stock valued at $20,900,000 after purchasing an additional 834,134 shares during the last quarter. Millennium Management LLC grew its position in Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock valued at $10,910,000 after purchasing an additional 2,487,617 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 102.1% during the 1st quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company's stock valued at $10,388,000 after acquiring an additional 1,482,252 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Company 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.

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