Boxer Capital Management LLC Acquires Shares of 1,750,000 Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Boxer Capital Management LLC acquired a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,750,000 shares of the company's stock, valued at approximately $6,615,000. Boxer Capital Management LLC owned 2.55% of Amylyx Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. grew its position in Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. XTX Topco Ltd boosted its stake in Amylyx Pharmaceuticals by 12.0% during the fourth quarter. XTX Topco Ltd now owns 53,376 shares of the company's stock worth $202,000 after buying an additional 5,704 shares in the last quarter. Northern Trust Corp raised its stake in shares of Amylyx Pharmaceuticals by 11.8% in the 4th quarter. Northern Trust Corp now owns 106,564 shares of the company's stock valued at $403,000 after buying an additional 11,214 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 about $45,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 95.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Leerink Partners raised Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $4.00 to $10.00 in a research note on Wednesday. HC Wainwright restated a "buy" rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Finally, Mizuho upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $3.00 to $7.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $9.00.

Insider Buying and Selling at Amylyx Pharmaceuticals

In related news, Director Bernhardt G. Zeiher acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $3.70 per share, with a total value of $37,000.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at $37,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $43,114.75. Following the completion of the sale, the insider now directly owns 194,375 shares in the company, valued at $674,481.25. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,980 shares of company stock valued at $168,627. 11.70% of the stock is currently owned by corporate insiders.

Amylyx Pharmaceuticals Stock Up 6.1 %

NASDAQ AMLX traded up $0.29 during trading on Wednesday, reaching $4.94. 1,111,032 shares of the stock traded hands, compared to its average volume of 1,227,947. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $7.27. The firm has a market cap of $439.63 million, a price-to-earnings ratio of -1.29 and a beta of -0.60. The stock's 50-day moving average price is $3.95 and its 200 day moving average price is $4.22.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. Analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

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.