Adage Capital Partners GP L.L.C. Acquires New Stake in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Adage Capital Partners GP L.L.C. invested approximately $20.17 million in Amylyx Pharmaceuticals, acquiring 5,697,605 shares, bringing its total ownership to 6.39%.
• Multiple institutional investors have shown interest in Amylyx, including Jane Street Group LLC, which raised its stake by 122.4% in the fourth quarter.
• Amylyx Pharmaceuticals has experienced a stock price range between $2.09 and $10.06 over the past year, with recent analyst ratings predominantly favoring a "Buy" stance.

Adage Capital Partners GP L.L.C. acquired a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,697,605 shares of the company's stock, valued at approximately $20,170,000. Adage Capital Partners GP L.L.C. owned 6.39% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new position in Amylyx Pharmaceuticals in the 1st quarter valued at $35,000. Alpine Global Management LLC purchased a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at $45,000. R Squared Ltd lifted 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 valued at $45,000 after buying an additional 6,366 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Amylyx Pharmaceuticals by 24.7% during the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock valued at $51,000 after buying an additional 2,853 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Amylyx Pharmaceuticals by 18.3% during the 1st 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 last quarter. Institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Up 13.9%

Shares of Amylyx Pharmaceuticals stock traded up $1.46 during trading on Wednesday, hitting $11.97. 2,639,740 shares of the stock traded hands, compared to its average volume of 1,147,888. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -4.71 and a beta of -0.44. The firm's fifty day moving average is $8.31 and its 200-day moving average is $5.81. Amylyx Pharmaceuticals, Inc. has a 52 week low of $2.37 and a 52 week high of $11.69.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced 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). On average, analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "hold" rating on the stock. UBS Group raised Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. The Goldman Sachs Group raised Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective on the stock in a report on Thursday, July 10th. Finally, Citigroup initiated coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They set a "buy" rating and a $12.00 price objective on the stock. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average 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.