Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Up 4.8% - What's Next?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) shot up 4.8% during trading on Monday . The stock traded as high as $6.62 and last traded at $6.60. 635,977 shares traded hands during trading, a decline of 47% from the average session volume of 1,198,299 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

Several research firms have recently issued reports on AMLX. Citigroup began coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They issued a "buy" rating and a $12.00 price objective for the company. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Jefferies Financial Group began coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. Finally, Mizuho upped their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $11.00.

Amylyx Pharmaceuticals Price Performance

The company has a fifty day moving average of $5.35 and a 200 day moving average of $4.27. The firm has a market capitalization of $602.59 million, a P/E ratio of -2.17 and a beta of -0.49.

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 the consensus estimate of ($0.45) by $0.03. On average, sell-side analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AMLX. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Amylyx Pharmaceuticals by 43.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company's stock worth $4,775,000 after buying an additional 382,608 shares in the last quarter. Kennondale Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $508,000. American Century Companies Inc. boosted its holdings in shares of Amylyx Pharmaceuticals by 181.8% during the 4th quarter. American Century Companies Inc. now owns 59,310 shares of the company's stock worth $224,000 after buying an additional 38,261 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. Finally, EntryPoint Capital LLC bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $53,000. 95.84% of the stock is currently owned by institutional investors.

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.