Allostery Investments LP Purchases Shares of 266,099 Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Allostery Investments LP acquired a stake of 266,099 shares in Amylyx Pharmaceuticals, valued at approximately $942,000, making it the fund's 19th largest holding.
• Research analysts have positive outlooks for Amylyx Pharmaceuticals, with price targets raised by firms like Bank of America to $14.00 and HC Wainwright to $16.00 while maintaining a "buy" rating.
• Amylyx Pharmaceuticals reported a loss of ($0.46) earnings per share for the latest quarter, missing analysts' expectations, though it is anticipated to post -2.2 earnings per share for the current fiscal year.

Allostery Investments LP bought a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 266,099 shares of the company's stock, valued at approximately $942,000. Amylyx Pharmaceuticals accounts for approximately 1.4% of Allostery Investments LP's investment portfolio, making the stock its 19th biggest position. Allostery Investments LP owned about 0.30% of Amylyx Pharmaceuticals at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $35,000. Alpine Global Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. R Squared Ltd raised its holdings 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 worth $45,000 after acquiring an additional 6,366 shares in the last quarter. Hsbc Holdings PLC raised 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 acquiring an additional 2,853 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings 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 worth $61,000 after acquiring an additional 2,653 shares in the last quarter. Institutional investors own 95.84% of the company's stock.

Analyst Ratings Changes

AMLX has been the topic of several recent research reports. Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Citigroup started coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They set a "buy" rating and a $12.00 price target on the stock. Bank of America increased their price target on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Guggenheim started coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They set a "buy" rating and a $17.00 price target on the stock. Finally, TD Cowen started coverage on Amylyx Pharmaceuticals in a research report on Friday, May 30th. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $12.25.

Amylyx Pharmaceuticals Trading Up 2.5%

Shares of AMLX traded up $0.25 during midday trading on Friday, reaching $10.20. 1,752,271 shares of the stock were exchanged, compared to its average volume of 1,245,855. Amylyx Pharmaceuticals, Inc. has a 52 week low of $2.28 and a 52 week high of $10.24. The company's 50 day moving average is $8.15 and its two-hundred day moving average is $5.71. The company has a market capitalization of $909.53 million, a P/E ratio of -4.08 and a beta of -0.44.

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

Amylyx Pharmaceuticals 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.