Amylyx Pharmaceuticals (NASDAQ:AMLX) Lowered to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

Other research analysts have also recently issued reports about the company. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Leerink Partners raised Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Mizuho lifted their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. TD Cowen initiated coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating for the company. Finally, HC Wainwright lifted their price objective on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX remained flat at $5.52 during mid-day trading on Friday. The stock had a trading volume of 890,299 shares, compared to its average volume of 1,202,901. The business has a 50 day moving average of $4.78 and a 200-day moving average of $4.15. The firm has a market capitalization of $492.06 million, a price-to-earnings ratio of -1.45 and a beta of -0.59. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.03. Research analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director Bernhardt G. Zeiher acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $3.70 per share, for a total transaction of $37,000.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at $37,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joshua B. Cohen sold 21,490 shares of the business'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 completion of the transaction, the chief executive officer now owns 3,355,280 shares of the company's stock, valued at $11,642,821.60. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,811 shares of company stock worth $155,494. 11.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after acquiring an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at $35,000. Fox Run Management L.L.C. bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at $45,000. Alpine Global Management LLC acquired a new position in Amylyx Pharmaceuticals in the 4th quarter valued at $45,000. Finally, RPO LLC acquired a new position in Amylyx Pharmaceuticals in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 95.84% of the company's stock.

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.