Aberdeen Group plc Buys 707,553 Shares of 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 increased its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,430,358 shares of the company's stock after purchasing an additional 707,553 shares during the period. Aberdeen Group plc owned approximately 2.73% of Amylyx Pharmaceuticals worth $8,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC purchased a new position in Amylyx Pharmaceuticals in the 1st quarter worth approximately $35,000. Alpine Global Management LLC bought a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth $45,000. R Squared Ltd grew its position in Amylyx Pharmaceuticals by 99.9% in the first quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after acquiring an additional 6,366 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Amylyx Pharmaceuticals by 18.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock worth $61,000 after acquiring an additional 2,653 shares in the last quarter. Finally, Premier Path Wealth Partners LLC bought a new position in Amylyx Pharmaceuticals in the first quarter valued at $72,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Price Performance

Amylyx Pharmaceuticals stock traded down $0.80 during trading hours on Monday, reaching $8.50. The stock had a trading volume of 2,061,409 shares, compared to its average volume of 1,047,261. The company has a fifty day simple moving average of $7.44 and a 200-day simple moving average of $5.35. Amylyx Pharmaceuticals, Inc. has a 52 week low of $2.05 and a 52 week high of $9.38. The stock has a market cap of $757.95 million, a PE ratio of -3.40 and a beta of -0.46.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its earnings results 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). Research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group raised Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price target for the company in a research note on Thursday, July 10th. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $4.00 to $10.00 in a research report on Wednesday, May 7th. TD Cowen started coverage on shares of Amylyx Pharmaceuticals in a research report on Friday, May 30th. They set a "buy" rating on the stock. UBS Group raised shares of Amylyx Pharmaceuticals to a "hold" rating in a research note on Tuesday, June 24th. Finally, Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $11.75.

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.