Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Sold by 683 Capital Management LLC

683 Capital Management LLC lowered its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 2.82% of Amylyx Pharmaceuticals worth $7,295,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Boxer Capital Management LLC bought a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter valued at approximately $6,615,000. Jane Street Group LLC raised its stake in shares of Amylyx Pharmaceuticals by 122.4% during the fourth quarter. Jane Street Group LLC now owns 765,475 shares of the company's stock valued at $2,893,000 after purchasing an additional 421,302 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Amylyx Pharmaceuticals by 43.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company's stock worth $4,775,000 after purchasing an additional 382,608 shares during the period. Wellington Management Group LLP bought a new position in Amylyx Pharmaceuticals in the 4th quarter valued at about $793,000. Finally, Renaissance Technologies LLC increased its stake in Amylyx Pharmaceuticals by 70.9% during the 4th quarter. Renaissance Technologies LLC now owns 464,400 shares of the company's stock valued at $1,755,000 after buying an additional 192,600 shares during the period. 95.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMLX shares. Mizuho upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $3.00 to $7.00 in a research note on Monday, April 7th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.00.

Amylyx Pharmaceuticals Trading Up 0.6 %

NASDAQ AMLX opened at $5.14 on Friday. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $7.27. The stock's 50-day moving average price is $3.83 and its two-hundred day moving average price is $4.20. The company has a market cap of $457.89 million, a PE ratio of -1.35 and a beta of -0.53.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million for the quarter. Research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In related news, CEO Joshua B. Cohen sold 11,851 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total transaction of $41,122.97. Following the transaction, the chief executive officer now directly owns 3,201,247 shares of the company's stock, valued at approximately $11,108,327.09. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bernhardt G. Zeiher bought 10,000 shares of the business's stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $3.70 per share, with a total value of $37,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $37,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 64,509 shares of company stock valued at $222,586 over the last quarter. Company 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.

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