Invesco Ltd. Invests $162,000 in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Invesco Ltd. has acquired a new position in Amylyx Pharmaceuticals, purchasing 45,694 shares valued at approximately $162,000 during the first quarter.
• Hedge fund activity around Amylyx Pharmaceuticals is significant, with 95.84% of the stock now held by institutional investors after several have recently increased their stakes.
• Amylyx Pharmaceuticals has received positive analyst ratings, including upgrades from Citigroup and Goldman Sachs, with an average rating of "Buy" and a consensus price target of $12.25.

Invesco Ltd. acquired a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,694 shares of the company's stock, valued at approximately $162,000. Invesco Ltd. owned 0.05% of Amylyx Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Amylyx Pharmaceuticals by 24.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 372,853 shares of the company's stock worth $1,320,000 after purchasing an additional 73,904 shares in the last quarter. R Squared Ltd boosted its position in shares of Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after purchasing an additional 6,366 shares in the last quarter. Kennondale Capital Management LLC boosted its position in shares of Amylyx Pharmaceuticals by 50.8% in the 1st quarter. Kennondale Capital Management LLC now owns 202,743 shares of the company's stock worth $718,000 after buying an additional 68,298 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Amylyx Pharmaceuticals by 22.0% in the 1st quarter. Alps Advisors Inc. now owns 67,597 shares of the company's stock worth $239,000 after buying an additional 12,167 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth about $35,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Stock Down 1.6%

Shares of AMLX stock traded down $0.19 during trading hours on Friday, hitting $11.65. 2,149,959 shares of the company were exchanged, compared to its average volume of 1,759,389. The firm has a market cap of $1.04 billion, a PE ratio of -4.66 and a beta of -0.44. Amylyx Pharmaceuticals, Inc. has a 1 year low of $2.48 and a 1 year high of $12.25. The firm has a fifty day moving average of $8.64 and a 200 day moving average of $5.99.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02). Analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group upgraded shares of Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Citigroup assumed coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They issued a "buy" rating and a $12.00 target price on the stock. TD Cowen assumed coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They issued a "buy" rating on the stock. Finally, Guggenheim assumed coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "buy" rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $12.25.

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.