Amylyx Pharmaceuticals, Inc. $AMLX is Almitas Capital LLC's 5th Largest Position

Key Points

• Almitas Capital LLC increased its stake in Amylyx Pharmaceuticals (NASDAQ: AMLX) by 4.4% during the first quarter, acquiring an additional 90,227 shares, bringing its total holdings to approximately 2,122,597 shares worth about $7.5 million.
• Several brokerages have issued upgrades, with Goldman Sachs raising the stock to a "buy" rating and setting a target price of $10.00, while Mizuho increased its target to $8.00.
• Amylyx Pharmaceuticals has recently experienced a 6.4% increase in share price, and as of Wednesday, the stock was trading at $9.98 with a market cap of approximately $889.92 million.

Almitas Capital LLC raised its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,122,597 shares of the company's stock after acquiring an additional 90,227 shares during the period. Amylyx Pharmaceuticals comprises approximately 2.5% of Almitas Capital LLC's portfolio, making the stock its 5th biggest holding. Almitas Capital LLC owned about 2.38% of Amylyx Pharmaceuticals worth $7,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 683 Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 24.9% during the first quarter. 683 Capital Management LLC now owns 2,411,400 shares of the company's stock worth $8,536,000 after purchasing an additional 481,400 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at $20,170,000. ADAR1 Capital Management LLC lifted its position in Amylyx Pharmaceuticals by 14,615.9% during the first quarter. ADAR1 Capital Management LLC now owns 1,471,587 shares of the company's stock valued at $5,209,000 after buying an additional 1,461,587 shares during the period. Paloma Partners Management Co purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at $79,000. Finally, Nantahala Capital Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 102.1% during the first quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company's stock valued at $10,388,000 after acquiring an additional 1,482,252 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock traded up $0.25 during mid-day trading on Friday, hitting $10.20. The company's stock had a trading volume of 1,752,271 shares, compared to its average volume of 1,245,855. The company has a 50 day moving average of $8.15 and a 200-day moving average of $5.71. The stock has a market cap of $909.53 million, a PE ratio of -4.08 and a beta of -0.44. Amylyx Pharmaceuticals, Inc. has a one year low of $2.28 and a one year high of $10.24.

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, equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMLX. Wall Street Zen upgraded Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Mizuho boosted their price target on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Jefferies Financial Group began coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They set a "hold" rating for the company. Guggenheim began coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "buy" rating and a $17.00 price objective on the stock. Finally, Citigroup began coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They issued a "buy" rating and a $12.00 price target on the stock. Two research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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.