274,435 Shares in Amylyx Pharmaceuticals, Inc. $AMLX Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 274,435 Amylyx Pharmaceuticals shares worth approximately $4.9 million, giving it about a 0.25% stake. Institutional investors and hedge funds collectively own 95.84% of AMLX.
• Analyst sentiment is broadly positive: two analysts rate AMLX a Strong Buy and eight rate it a Buy, with a consensus price target of $36.50. Several firms recently raised their targets, including Guggenheim to $57 and Robert W. Baird to $52.
• AMLX opened at $34.10, well above its 50-day and 200-day moving averages, but the company reported a quarterly loss of $0.39 per share, missing estimates by $0.03; analysts expect a full-year loss of $1.48 per share.

Bank of New York Mellon Corp bought a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 274,435 shares of the company's stock, valued at approximately $4,929,000. Bank of New York Mellon Corp owned approximately 0.25% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $705,000. Dimensional Fund Advisors LP lifted its stake in Amylyx Pharmaceuticals by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company's stock valued at $12,544,000 after buying an additional 131,944 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company's stock worth $70,123,000 after acquiring an additional 531,162 shares during the last quarter. Siren L.L.C. acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth about $17,097,000. Finally, Stempoint Capital LP lifted its position in Amylyx Pharmaceuticals by 18.5% in the 1st quarter. Stempoint Capital LP now owns 669,685 shares of the company's stock valued at $9,309,000 after purchasing an additional 104,545 shares during the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMLX has been the subject of several research analyst reports. HC Wainwright upped their price objective on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Wolfe Research raised shares of Amylyx Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 17th. Guggenheim lifted their price target on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Wall Street Zen lowered Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Robert W. Baird raised their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Amylyx Pharmaceuticals has an average rating of "Buy" and a consensus target price of $36.50.

Insiders Place Their Bets

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the transaction, the insider owned 194,090 shares in the company, valued at approximately $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company's stock.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX opened at $34.10 on Friday. The firm's 50-day moving average is $24.23 and its 200-day moving average is $18.18. The company has a market cap of $3.80 billion, a price-to-earnings ratio of -23.85 and a beta of -0.13. Amylyx Pharmaceuticals, Inc. has a 52-week low of $9.75 and a 52-week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.03). Equities analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Amylyx Pharmaceuticals Profile

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