Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 862.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 472,397 shares of the company's stock after purchasing an additional 423,316 shares during the quarter. Cubist Systematic Strategies LLC owned 0.69% of Amylyx Pharmaceuticals worth $1,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock valued at $9,171,000 after acquiring an additional 1,513,748 shares during the period. Almitas Capital LLC lifted its position in shares of Amylyx Pharmaceuticals by 2.2% during the 4th quarter. Almitas Capital LLC now owns 2,032,370 shares of the company's stock valued at $7,682,000 after acquiring an additional 43,807 shares during the period. Boxer Capital Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter valued at approximately $6,615,000. Nantahala Capital Management LLC raised its position in shares of Amylyx Pharmaceuticals by 3.4% during the 4th quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company's stock worth $5,489,000 after purchasing an additional 47,589 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position 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 purchasing an additional 382,608 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Up 7.1%

Shares of NASDAQ AMLX traded up $0.32 during trading on Friday, hitting $4.84. 798,017 shares of the company traded hands, compared to its average volume of 1,217,112. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $7.27. The company has a 50-day moving average price of $4.14 and a 200-day moving average price of $4.19. The firm has a market capitalization of $431.44 million, a P/E ratio of -1.27 and a beta of -0.60.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMLX. Mizuho lifted their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday. Leerink Partners upgraded 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 report on Wednesday, May 7th. HC Wainwright boosted their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.83.

Insider Activity at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 12,425 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was 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 directly owns 194,375 shares in the company, valued at $674,481.25. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernhardt G. Zeiher bought 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $3.70 per share, with a total value of $37,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company's stock, valued at approximately $37,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 48,980 shares of company stock worth $168,627. Corporate insiders own 11.70% of the company's stock.

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.