Amylyx Pharmaceuticals (NASDAQ:AMLX) Downgraded by Wall Street Zen to Sell

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

A number of other brokerages have also recently commented on AMLX. Mizuho upped their target price on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. TD Cowen assumed coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating for the company. Leerink Partners raised shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Finally, HC Wainwright increased their price target on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $10.14.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX traded down $0.11 on Friday, reaching $5.33. The company's stock had a trading volume of 947,399 shares, compared to its average volume of 1,201,245. The stock's 50-day moving average is $4.86 and its two-hundred day moving average is $4.14. Amylyx Pharmaceuticals has a 52-week low of $1.62 and a 52-week high of $7.27. The stock has a market capitalization of $475.12 million, a P/E ratio of -1.71 and a beta of -0.59.

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

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,896 shares of the stock in a transaction dated Monday, March 31st. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Camille L. Bedrosian sold 12,425 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $43,114.75. Following the completion of the transaction, the insider now directly owns 194,375 shares of the company's stock, valued at approximately $674,481.25. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,811 shares of company stock valued at $155,494. Corporate insiders own 11.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMLX. Blue Trust Inc. grew its position in shares of Amylyx Pharmaceuticals by 232.1% in 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 during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $35,000. Fox Run Management L.L.C. acquired a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $45,000. Alpine Global Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $45,000. Finally, RPO LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $46,000. 95.84% of the stock is 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.