Renaissance Technologies LLC Raises Stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Renaissance Technologies LLC grew its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 70.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 464,400 shares of the company's stock after purchasing an additional 192,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.68% of Amylyx Pharmaceuticals worth $1,755,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted 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 purchasing an additional 4,883 shares during the period. Fox Run Management L.L.C. purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $45,000. RPO LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $46,000. EntryPoint Capital LLC purchased a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $53,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Up 2.1 %

AMLX stock traded up $0.11 on Friday, reaching $5.25. 112,736 shares of the company's stock were exchanged, compared to its average volume of 1,233,149. The stock has a fifty day moving average of $3.83 and a 200-day moving average of $4.20. The firm has a market cap of $467.33 million, a PE ratio of -1.38 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.06). The firm had revenue of ($0.67) million for the quarter. On average, equities research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Analyst Ratings Changes

AMLX has been the topic of several research reports. HC Wainwright reissued a "buy" rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Mizuho raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $3.00 to $7.00 in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amylyx Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $8.00.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CEO Joshua B. Cohen sold 21,490 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the sale, the chief executive officer now directly owns 3,355,280 shares in the company, valued at $11,642,821.60. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James M. Frates sold 10,896 shares of Amylyx Pharmaceuticals 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 $37,809.12. Following the transaction, the chief financial officer now owns 290,988 shares of the company's stock, valued at $1,009,728.36. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,509 shares of company stock valued at $222,586. Insiders own 11.70% of the company's stock.

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.