Almitas Capital LLC Buys Shares of 974,881 Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Almitas Capital LLC acquired 974,881 Amylyx Pharmaceuticals shares worth approximately $17.5 million, making AMLX its fourth-largest portfolio holding and representing about 0.87% of the company.
• Institutional ownership remains high at 95.84%, while analysts maintain a consensus “Buy” rating with an average price target of $36.25; several firms recently raised targets to between $42 and $55.
• AMLX shares opened at $37.08, well above their 50-day and 200-day moving averages, but Amylyx reported a quarterly loss of $0.39 per share, missing estimates by $0.03.

Almitas Capital LLC acquired a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 974,881 shares of the company's stock, valued at approximately $17,509,000. Amylyx Pharmaceuticals comprises approximately 4.2% of Almitas Capital LLC's investment portfolio, making the stock its 4th largest position. Almitas Capital LLC owned approximately 0.87% of Amylyx Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at approximately $25,000. KBC Group NV purchased a new stake in Amylyx Pharmaceuticals in the 1st quarter worth $26,000. California State Teachers Retirement System purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth $28,000. State of Wyoming bought a new stake in Amylyx Pharmaceuticals during the second quarter valued at about $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock valued at $47,000 after acquiring an additional 3,493 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMLX shares. Robert W. Baird boosted their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, August 19th. HC Wainwright lifted their price objective on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. Mizuho boosted their target price on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. Guggenheim raised their price objective on Amylyx Pharmaceuticals from $40.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $36.25.

Insider Activity

In other news, insider Gina Mazzariello sold 15,000 shares of the firm's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the transaction, the insider directly owned 194,090 shares in the company, valued at $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.90% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $37.08 on Thursday. The business has a fifty day moving average price of $21.72 and a 200 day moving average price of $17.20. Amylyx Pharmaceuticals, Inc. has a 1-year low of $8.94 and a 1-year high of $41.14. The stock has a market capitalization of $4.13 billion, a P/E ratio of -25.93 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, equities research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Amylyx Pharmaceuticals Company Profile

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