Amylyx Pharmaceuticals (NASDAQ:AMLX) Reaches New 1-Year High - Here's Why

Key Points

• Amylyx Pharmaceuticals shares reached a new 52-week high, trading as high as $19.26 and last changing hands at $18.95, above the prior close of $18.41.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $24.62; recent targets range from $24 to $40, though some firms maintain sell ratings.
• The company reported a quarterly loss of $0.37 per share, missing estimates by $0.03. Institutional investors own approximately 95.84% of the stock, while an insider recently sold 15,000 shares.

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $19.26 and last traded at $18.95, with a volume of 121523 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMLX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. HC Wainwright reaffirmed a "buy" rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. Guggenheim lifted their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Mizuho boosted their price target on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Monday, July 20th. Finally, Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.62.

Amylyx Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.12 billion, a PE ratio of -12.69 and a beta of -0.20. The company has a fifty day moving average price of $15.88 and a 200-day moving average price of $15.19.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.03). On average, equities analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the sale, the insider directly owned 194,090 shares in the company, valued at $3,555,728.80. The trade was a 7.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company's stock valued at $70,123,000 after purchasing an additional 531,162 shares during the period. iA Global Asset Management Inc. bought a new position in shares of Amylyx Pharmaceuticals during the 1st quarter valued at approximately $4,237,000. Sofinnova Investments Inc. purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at $6,367,000. Commodore Capital LP grew its holdings in Amylyx Pharmaceuticals by 38.6% during the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company's stock valued at $68,252,000 after purchasing an additional 1,574,522 shares during the last quarter. Finally, Siren L.L.C. bought a new stake in Amylyx Pharmaceuticals in the first quarter worth about $17,097,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx's research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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