Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 4,970,000 shares, an increase of 18.3% from the April 30th total of 4,200,000 shares. Currently, 7.6% of the company's shares are short sold. Based on an average daily volume of 913,100 shares, the short-interest ratio is presently 5.4 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMLX shares. TD Cowen started coverage on Amylyx Pharmaceuticals in a research report on Friday, May 30th. They issued a "buy" rating for the company. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Mizuho raised their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and raised their target price for the company from $4.00 to $10.00 in a research note on Wednesday, May 7th. Finally, HC Wainwright raised their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $9.83.

Insider Buying and Selling

In other news, CFO James M. Frates sold 10,896 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total value 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 approximately $1,009,728.36. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bernhardt G. Zeiher acquired 10,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $3.70 per share, with a total value of $37,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $37,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 44,811 shares of company stock valued at $155,494 in the last three months. Insiders own 11.70% of the company's stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Amylyx Pharmaceuticals by 18.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock worth $61,000 after buying an additional 2,653 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Amylyx Pharmaceuticals by 24.7% in the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock worth $51,000 after buying an additional 2,853 shares during the last quarter. Blue Trust Inc. boosted its stake 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 worth $26,000 after buying an additional 4,883 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Amylyx Pharmaceuticals by 12.0% in the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company's stock worth $202,000 after buying an additional 5,704 shares during the last quarter. Finally, R Squared Ltd boosted its stake in shares of Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after buying an additional 6,366 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Up 2.6%

AMLX stock traded up $0.13 during mid-day trading on Thursday, reaching $5.05. 693,014 shares of the company traded hands, compared to its average volume of 1,204,976. The stock has a market cap of $450.16 million, a price-to-earnings ratio of -1.32 and a beta of -0.59. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $7.27. The firm's 50 day moving average price is $4.51 and its 200 day moving average price is $4.15.

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

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.