Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Justin Klee Sells 29,975 Shares

Key Points

• CEO Justin Klee of Amylyx Pharmaceuticals sold 29,975 shares of the company, totaling $431,040.50, reducing his ownership by 0.89% to 3,325,301 shares valued at approximately $47.8 million.
• Following this transaction, Amylyx Pharmaceuticals' stock performance showed a trading volume of over 3.3 million shares, with a current stock price of $13.29.
• Several analysts have updated their ratings and price targets for AMLX, with Bank of America setting a new target of $14.00 and Guggenheim increasing their target to $25.00, reflecting a generally positive outlook for the stock.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) CEO Justin Klee sold 29,975 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.38, for a total transaction of $431,040.50. Following the completion of the sale, the chief executive officer directly owned 3,325,301 shares in the company, valued at approximately $47,817,828.38. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX traded down $0.71 during trading hours on Thursday, reaching $13.29. The company's stock had a trading volume of 3,330,605 shares, compared to its average volume of 1,254,741. The stock has a market cap of $1.19 billion, a PE ratio of -5.32 and a beta of -0.34. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $15.15. The company's 50-day moving average is $10.09 and its two-hundred day moving average is $6.87.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). Equities analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on AMLX. Bank of America upped their target price on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "hold" rating on the stock. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Guggenheim upped their target price on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, UBS Group upgraded shares of Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Amylyx Pharmaceuticals has an average rating of "Buy" and a consensus target price of $14.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $45,000. BNP Paribas Financial Markets increased its position in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock worth $47,000 after purchasing an additional 5,904 shares in the last quarter. Legal & General Group Plc acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Amylyx Pharmaceuticals during the 1st quarter worth approximately $35,000. 95.84% of the stock is currently 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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