Cubist Systematic Strategies LLC Has $1.79 Million Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Cubist Systematic Strategies LLC raised its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 862.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 472,397 shares of the company's stock after acquiring an additional 423,316 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.69% of Amylyx Pharmaceuticals worth $1,786,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of Amylyx Pharmaceuticals by 232.1% in the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock valued at $26,000 after acquiring an additional 4,883 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. Alpine Global Management LLC acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. RPO LLC bought a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $46,000. Finally, EntryPoint Capital LLC bought a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $53,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Up 7.1%

Shares of AMLX traded up $0.32 during midday trading on Friday, hitting $4.84. The company's stock had a trading volume of 798,017 shares, compared to its average volume of 1,215,382. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $7.27. The stock has a market capitalization of $431.44 million, a price-to-earnings ratio of -1.27 and a beta of -0.60. The company's fifty day simple moving average is $4.12 and its two-hundred day simple moving average is $4.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.03. On average, research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insider Activity

In related news, CEO Joshua B. Cohen sold 21,490 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now owns 3,355,280 shares of the company's stock, valued at $11,642,821.60. This represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Camille L. Bedrosian sold 12,425 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $43,114.75. Following the completion of the sale, the insider now 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. In the last three months, insiders have sold 48,980 shares of company stock worth $168,627. Corporate insiders own 11.70% of the company's stock.

Analyst Ratings Changes

AMLX has been the subject of several recent research reports. HC Wainwright boosted their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Leerink Partners raised Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Leerink Partnrs upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Mizuho upped their price objective on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $9.83.

Amylyx Pharmaceuticals 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.