683 Capital Management LLC Trims Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

683 Capital Management LLC trimmed its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,930,000 shares of the company's stock after selling 70,000 shares during the quarter. 683 Capital Management LLC owned 2.82% of Amylyx Pharmaceuticals worth $7,295,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Amylyx Pharmaceuticals by 232.1% during the fourth 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 in the last quarter. XTX Topco Ltd raised its stake in Amylyx Pharmaceuticals by 12.0% in the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company's stock valued at $202,000 after acquiring an additional 5,704 shares during the period. Northern Trust Corp lifted its holdings in Amylyx Pharmaceuticals by 11.8% during the fourth 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 during the last quarter. Fox Run Management L.L.C. bought a new position in Amylyx Pharmaceuticals in the 4th quarter worth approximately $45,000. Finally, Alpine Global Management LLC purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter worth about $45,000. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Stock Up 5.9 %

NASDAQ:AMLX traded up $0.27 during midday trading on Wednesday, hitting $4.92. The company had a trading volume of 1,209,440 shares, compared to its average volume of 1,228,411. The company has a market capitalization of $438.65 million, a PE ratio of -1.29 and a beta of -0.60. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $7.27. The stock's fifty day moving average price is $3.95 and its 200-day moving average price is $4.22.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The firm had revenue of ($0.67) million during the quarter. As a group, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

AMLX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th. Leerink Partners raised shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $4.00 to $10.00 in a report on Wednesday. Finally, Mizuho upgraded Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $3.00 to $7.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of "Buy" and an average price target of $9.00.

Insider Activity

In other news, CEO Joshua B. Cohen sold 21,490 shares of the firm's 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 transaction, the chief executive officer now owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James M. Frates sold 10,896 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $37,809.12. Following the completion of the sale, the chief financial officer now directly owns 290,988 shares in the company, valued at approximately $1,009,728.36. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,980 shares of company stock valued at $168,627. 11.70% of the stock is currently owned by insiders.

About Amylyx Pharmaceuticals

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.