Aberdeen Group plc Increases Stock Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Aberdeen Group plc increased its stake in Amylyx Pharmaceuticals by 41.1% in Q1, owning approximately 2.73% or $8.60 million worth of shares.
• Amylyx Pharmaceuticals recently reported an earnings per share of ($0.46), missing expectations by $0.02, with analysts forecasting a total of -2.2 earnings per share for the fiscal year.
• The stock has received upgrades from several analysts, with target prices now ranging from $8.00 to $16.00 and an average rating of "Buy" from the investment community.

Aberdeen Group plc raised its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 41.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,430,358 shares of the company's stock after buying an additional 707,553 shares during the quarter. Aberdeen Group plc owned about 2.73% of Amylyx Pharmaceuticals worth $8,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at $35,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals during the fourth quarter valued at $45,000. R Squared Ltd lifted its position in Amylyx Pharmaceuticals by 99.9% during the first quarter. R Squared Ltd now owns 12,736 shares of the company's stock valued at $45,000 after buying an additional 6,366 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Amylyx Pharmaceuticals by 18.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock valued at $61,000 after buying an additional 2,653 shares during the period. Finally, Premier Path Wealth Partners LLC purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at $72,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Guggenheim initiated coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "buy" rating and a $17.00 price objective for the company. Wall Street Zen upgraded Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. UBS Group upgraded Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. TD Cowen initiated coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating for the company. Finally, Mizuho raised their price target on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $11.75.

Amylyx Pharmaceuticals Price Performance

NASDAQ AMLX traded up $0.87 during trading hours on Friday, hitting $9.30. The company's stock had a trading volume of 2,718,472 shares, compared to its average volume of 964,573. Amylyx Pharmaceuticals, Inc. has a 12 month low of $2.05 and a 12 month high of $9.38. The company's 50 day simple moving average is $7.38 and its two-hundred day simple moving average is $5.30. The company has a market cap of $829.28 million, a P/E ratio of -3.72 and a beta of -0.46.

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

About Amylyx Pharmaceuticals

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.