ADAR1 Capital Management LLC Buys 1,461,587 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• ADAR1 Capital Management LLC significantly increased its stake in Amylyx Pharmaceuticals, growing its holdings by 14,615.9% to approximately 1.65% of the company, worth about $5.21 million.
• Several institutional investors, including Valeo Financial Advisors LLC and Alpine Global Management LLC, have recently acquired new stakes in Amylyx Pharmaceuticals, reflecting a strong interest from institutional investors in the stock, which now has 95.84% institutional ownership.
• Amylyx Pharmaceuticals received a series of upgrades from analysts, with Goldman Sachs and Bank of America rating it as a "buy," and the stock currently holds an average price target of $12.25.

ADAR1 Capital Management LLC raised its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 14,615.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,471,587 shares of the company's stock after buying an additional 1,461,587 shares during the quarter. ADAR1 Capital Management LLC owned 1.65% of Amylyx Pharmaceuticals worth $5,209,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMLX. Valeo Financial Advisors LLC bought a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $35,000. Alpine Global Management LLC acquired a new stake in Amylyx Pharmaceuticals in the 4th quarter worth $45,000. R Squared Ltd grew its position in Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after purchasing an additional 6,366 shares during the last quarter. Hsbc Holdings PLC increased its holdings 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 worth $51,000 after purchasing an additional 2,853 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of 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 last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Up 2.5%

Shares of AMLX stock traded up $0.25 during trading on Friday, reaching $10.20. The company's stock had a trading volume of 1,752,271 shares, compared to its average volume of 1,245,855. Amylyx Pharmaceuticals, Inc. has a one year low of $2.28 and a one year high of $10.24. The business has a fifty day moving average price of $8.15 and a 200-day moving average price of $5.71. The company has a market cap of $909.53 million, a price-to-earnings ratio of -4.08 and a beta of -0.44.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMLX. Citigroup assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They issued a "buy" rating and a $12.00 target price on the stock. Bank of America raised their price target on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Jefferies Financial Group began coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "hold" rating on the stock. UBS Group raised Amylyx Pharmaceuticals to a "hold" rating in a research note on Tuesday, June 24th. Finally, Mizuho lifted their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $12.25.

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.