Amylyx Pharmaceuticals (NASDAQ:AMLX) Coverage Initiated at Guggenheim

Guggenheim initiated coverage on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) in a research report report published on Tuesday, Marketbeat reports. The firm issued a buy rating and a $17.00 price target on the stock.

Other research analysts have also issued reports about the stock. Leerink Partners upgraded shares of 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 research note on Wednesday, May 7th. Leerink Partnrs upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Mizuho increased their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. TD Cowen began coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating for the company. Finally, Wall Street Zen cut Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Amylyx Pharmaceuticals Trading Down 5.1%

Shares of NASDAQ:AMLX traded down $0.33 during midday trading on Tuesday, reaching $6.17. The company had a trading volume of 984,583 shares, compared to its average volume of 1,189,457. Amylyx Pharmaceuticals has a 52-week low of $1.62 and a 52-week high of $7.27. The company's 50 day moving average price is $5.13 and its 200 day moving average price is $4.17. The stock has a market cap of $549.99 million, a P/E ratio of -1.99 and a beta of -0.59.

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

Insiders Place Their Bets

In related news, insider Camille L. Bedrosian sold 12,425 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $43,114.75. Following 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James M. Frates sold 10,896 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 290,988 shares of the company's stock, valued at approximately $1,009,728.36. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,811 shares of company stock valued at $155,494 over the last 90 days. Insiders own 11.70% of the company's stock.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in Amylyx Pharmaceuticals by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company's stock valued at $7,090,000 after purchasing an additional 143,065 shares during the period. Woodline Partners LP purchased a new position in shares of Amylyx Pharmaceuticals during the first quarter valued at approximately $5,697,000. Millennium Management LLC raised its holdings in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock worth $10,910,000 after purchasing an additional 2,487,617 shares in the last quarter. Allostery Investments LP purchased a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth about $942,000. Finally, Almitas Capital LLC boosted its stake in shares of Amylyx Pharmaceuticals by 4.4% during the 1st quarter. Almitas Capital LLC now owns 2,122,597 shares of the company's stock valued at $7,514,000 after purchasing an additional 90,227 shares in the last quarter. Institutional investors own 95.84% 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.