American Century Companies Inc. Increases Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• American Century Companies Inc. has significantly increased its holdings in Amylyx Pharmaceuticals by 80.4% in the first quarter, now owning 107,014 shares worth approximately $379,000.
• Multiple analysts have recently upgraded their ratings for Amylyx Pharmaceuticals, with Goldman Sachs raising the stock to a "buy" with a price target of $10.00.
• Amylyx Pharmaceuticals reported a quarterly earnings per share of ($0.46), missing expectations by $0.02, as the company continues to engage in the development of treatments for neurodegenerative diseases.

American Century Companies Inc. grew its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 80.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,014 shares of the company's stock after buying an additional 47,704 shares during the period. American Century Companies Inc. owned approximately 0.12% of Amylyx Pharmaceuticals worth $379,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMLX. Valeo Financial Advisors LLC bought a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $35,000. Alpine Global Management LLC bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. R Squared Ltd lifted its holdings in shares of 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Amylyx Pharmaceuticals by 18.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock worth $61,000 after purchasing an additional 2,653 shares in the last quarter. Finally, Premier Path Wealth Partners LLC bought a new position in shares of Amylyx Pharmaceuticals in the 1st quarter worth $72,000. 95.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Guggenheim assumed coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "buy" rating and a $17.00 target price on the stock. The Goldman Sachs Group upgraded Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 target price on the stock in a report on Thursday, July 10th. Mizuho increased 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. Bank of America increased their target price on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group assumed coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $12.25.

Amylyx Pharmaceuticals Stock Up 0.1%

NASDAQ:AMLX traded up $0.01 during trading hours on Thursday, hitting $11.84. 2,633,395 shares of the company traded hands, compared to its average volume of 1,654,748. The firm's 50-day simple moving average is $8.53 and its 200-day simple moving average is $5.91. Amylyx Pharmaceuticals, Inc. has a one year low of $2.47 and a one year high of $12.25. The company has a market cap of $1.06 billion, a PE ratio of -4.74 and a beta of -0.44.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). As a group, equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Amylyx Pharmaceuticals Company 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.