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

Ameriprise Financial Inc. bought a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,428 shares of the company's stock, valued at approximately $191,000. Ameriprise Financial Inc. owned 0.07% of Amylyx Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $45,000. Alpine Global Management LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $45,000. RPO LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $46,000. Finally, EntryPoint Capital LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $53,000. Institutional investors own 95.84% of the company's stock.

Insider Activity

In other news, Director Bernhardt G. Zeiher acquired 10,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $3.70 per share, with a total value of $37,000.00. Following the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $37,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James M. Frates sold 10,896 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $37,809.12. Following the transaction, the chief financial officer now directly owns 290,988 shares in the company, valued at approximately $1,009,728.36. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,811 shares of company stock valued at $155,494. 11.70% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Stock Performance

AMLX traded up $0.28 during mid-day trading on Friday, reaching $5.33. The stock had a trading volume of 757,278 shares, compared to its average volume of 1,203,072. The stock has a market capitalization of $475.12 million, a P/E ratio of -1.40 and a beta of -0.59. The firm's fifty day simple moving average is $4.58 and its two-hundred day simple moving average is $4.15. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $7.27.

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

Analysts Set New Price Targets

A number of research firms recently commented on AMLX. HC Wainwright increased their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Leerink Partnrs upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. 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. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Finally, TD Cowen started coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has an average rating of "Buy" and an average target price of $9.83.

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.