Ameriprise Financial Inc. Purchases Shares of 50,428 Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Ameriprise Financial Inc. purchased a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,428 shares of the company's stock, valued at approximately $191,000. Ameriprise Financial Inc. owned approximately 0.07% of Amylyx Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Almitas Capital LLC lifted its position in Amylyx Pharmaceuticals by 2.2% in the 4th quarter. Almitas Capital LLC now owns 2,032,370 shares of the company's stock worth $7,682,000 after buying an additional 43,807 shares during the last quarter. Boxer Capital Management LLC purchased a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $6,615,000. Jane Street Group LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 122.4% in the 4th quarter. Jane Street Group LLC now owns 765,475 shares of the company's stock worth $2,893,000 after acquiring an additional 421,302 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Amylyx Pharmaceuticals by 16.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 193,931 shares of the company's stock valued at $733,000 after purchasing an additional 27,502 shares in the last quarter. Finally, Nantahala Capital Management LLC grew its holdings in shares of Amylyx Pharmaceuticals by 3.4% during the 4th quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company's stock valued at $5,489,000 after purchasing an additional 47,589 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMLX has been the topic of a number of recent research reports. HC Wainwright raised their price objective on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Mizuho raised their price target on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. TD Cowen assumed coverage on Amylyx Pharmaceuticals in a research report on Friday, May 30th. They issued a "buy" rating for the company. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Leerink Partners raised shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $4.00 to $10.00 in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of "Buy" and an average target price of $9.83.

Insider Activity at Amylyx Pharmaceuticals

In related news, Director Bernhardt G. Zeiher acquired 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company's stock, valued at $37,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $43,114.75. Following the completion of the transaction, the insider now directly owns 194,375 shares of the company's stock, valued at approximately $674,481.25. This represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,811 shares of company stock valued at $155,494 in the last three months. Company insiders own 11.70% of the company's stock.

Amylyx Pharmaceuticals Trading Up 5.9%

Shares of AMLX stock traded up $0.32 during midday trading on Tuesday, reaching $5.76. 1,394,443 shares of the stock were exchanged, compared to its average volume of 1,202,396. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $7.27. The firm has a market cap of $513.45 million, a PE ratio of -1.51 and a beta of -0.59. The company's 50 day moving average is $4.61 and its two-hundred day moving average is $4.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.03. As a group, equities analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal 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.