ADAR1 Capital Management LLC Buys 110,248 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

ADAR1 Capital Management LLC lifted its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 12.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000,604 shares of the company's stock after buying an additional 110,248 shares during the quarter. Amylyx Pharmaceuticals makes up approximately 0.8% of ADAR1 Capital Management LLC's portfolio, making the stock its 28th biggest holding. ADAR1 Capital Management LLC owned approximately 0.90% of Amylyx Pharmaceuticals worth $13,908,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at $25,000. KBC Group NV purchased a new stake in shares of Amylyx Pharmaceuticals in the first quarter worth $26,000. California State Teachers Retirement System purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth $28,000. Caitong International Asset Management Co. Ltd boosted its stake in Amylyx Pharmaceuticals by 954.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock valued at $47,000 after buying an additional 3,493 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock worth $47,000 after buying an additional 5,904 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares of the company's stock, valued at approximately $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 10.90% of the company's stock.

Wall Street Analyst Weigh In

AMLX has been the topic of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. HC Wainwright reiterated a "buy" rating and set a $34.00 price target on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Mizuho upped their price objective on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an "outperform" rating in a research report on Monday, July 20th. Guggenheim raised their target price on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Finally, Wall Street Zen cut shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.62.

Amylyx Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ:AMLX opened at $19.55 on Wednesday. The company has a 50-day moving average price of $16.15 and a 200-day moving average price of $15.30. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -13.03 and a beta of -0.20. Amylyx Pharmaceuticals, Inc. has a 12 month low of $7.48 and a 12 month high of $19.99.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.03). As a group, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current fiscal year.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx's research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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