Algert Global LLC Buys New Stake in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Algert Global LLC purchased 57,133 shares of Amylyx Pharmaceuticals, valued at approximately $202,000, during the first quarter.
• Institutional ownership makes up 95.84% of Amylyx Pharmaceuticals' stock, with significant increases from firms like Aberdeen Group and Bank of America Corp.
• Analysts have a consensus rating of "Buy" for Amylyx Pharmaceuticals, with a target price of $11.75, and recent upgrades from firms like Goldman Sachs.

Algert Global LLC purchased a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 57,133 shares of the company's stock, valued at approximately $202,000. Algert Global LLC owned approximately 0.06% of Amylyx Pharmaceuticals at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at $205,000. Bank of America Corp DE increased its position in shares of Amylyx Pharmaceuticals by 165.9% in 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. Wellington Management Group LLP acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at $793,000. Guggenheim Capital LLC increased its position in shares of Amylyx Pharmaceuticals by 132.9% in the 4th quarter. Guggenheim Capital LLC now owns 35,868 shares of the company's stock valued at $136,000 after acquiring an additional 20,470 shares during the period. Finally, Northern Trust Corp increased its position 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 acquiring an additional 11,214 shares during the period. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX traded down $0.03 during midday trading on Thursday, reaching $9.42. 1,494,198 shares of the stock were exchanged, compared to its average volume of 1,175,333. The company has a 50 day simple moving average of $7.69 and a 200 day simple moving average of $5.44. The stock has a market capitalization of $839.98 million, a P/E ratio of -3.77 and a beta of -0.46. Amylyx Pharmaceuticals, Inc. has a twelve month low of $2.08 and a twelve month high of $9.72.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). On average, research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

AMLX has been the topic of several research reports. The Goldman Sachs Group raised Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday, July 10th. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "hold" rating on the stock. TD Cowen began coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They issued a "buy" rating on the stock. Finally, Guggenheim began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "buy" rating and a $17.00 price target on the stock. Two equities research 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, Amylyx Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $12.25.

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.