Amylyx Pharmaceuticals (NASDAQ:AMLX) Shares Up 6.9% - What's Next?

Key Points

• Shares rose 6.9%, closing around $15.98 after trading as high as $16.20, with roughly 1.46 million shares changing hands — about 15% above average volume.
• Analyst sentiment is positive overall with a consensus "Moderate Buy" and an average price target of $20.11, and several firms raising or reaffirming buy ratings (e.g., HC Wainwright $34, Guggenheim $30, Stifel $21).
• Insiders sold a total of 151,203 shares (~$2.03 million) in the last quarter even though institutional investors own about 95.8% of the stock.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report)'s share price rose 6.9% during trading on Monday . The company traded as high as $16.20 and last traded at $15.9810. Approximately 1,459,803 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 1,272,312 shares. The stock had previously closed at $14.95.

Analyst Ratings Changes

Several research analysts have recently weighed in on AMLX shares. HC Wainwright reaffirmed a "buy" rating and set a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 25th. Stifel Nicolaus initiated coverage on Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a "buy" rating and a $21.00 price target for the company. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Guggenheim lifted their price objective on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.11.

Amylyx Pharmaceuticals Stock Performance

The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -10.31 and a beta of -0.22. The company has a 50-day simple moving average of $14.28 and a two-hundred day simple moving average of $13.82.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. As a group, sell-side analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Joshua B. Cohen sold 136,193 shares of the firm's stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $13.59, for a total value of $1,850,862.87. Following the completion of the sale, the chief executive officer directly owned 3,378,621 shares in the company, valued at approximately $45,915,459.39. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Justin B. Klee sold 1,995 shares of Amylyx Pharmaceuticals stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $13.89, for a total value of $27,710.55. Following the transaction, the chief executive officer owned 3,379,398 shares of the company's stock, valued at $46,939,838.22. The trade was a 0.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,203 shares of company stock valued at $2,028,385 in the last quarter. Company insiders own 12.30% of the company's stock.

Institutional Trading of Amylyx Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $25,000. California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its position in Amylyx Pharmaceuticals by 954.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock worth $47,000 after purchasing an additional 3,493 shares during the period. BNP Paribas Financial Markets boosted its position in Amylyx Pharmaceuticals by 433.2% during the second 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 during the period. Finally, Legal & General Group Plc acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at $47,000. 95.84% of the stock is owned by institutional investors and hedge funds.

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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