Amylyx Pharmaceuticals, Inc. $AMLX is First Light Asset Management LLC's 7th Largest Position

Key Points

• First Light Asset Management reduced its Amylyx Pharmaceuticals stake by 4.9% in the first quarter but still held 3.19 million shares worth approximately $44.35 million, making AMLX its seventh-largest position.
• Other institutional investors increased their holdings, and hedge funds and institutions collectively own 95.84% of Amylyx’s stock.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $24.62, although Amylyx recently missed quarterly EPS estimates and is expected to post a loss for the year.

First Light Asset Management LLC lessened its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,190,645 shares of the company's stock after selling 164,894 shares during the quarter. Amylyx Pharmaceuticals accounts for approximately 4.0% of First Light Asset Management LLC's holdings, making the stock its 7th largest holding. First Light Asset Management LLC owned 2.87% of Amylyx Pharmaceuticals worth $44,350,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Adage Capital Partners GP L.L.C. raised its position in shares of Amylyx Pharmaceuticals by 54.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company's stock valued at $56,408,000 after purchasing an additional 3,102,395 shares during the last quarter. Millennium Management LLC boosted its stake in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock worth $10,910,000 after purchasing an additional 2,487,617 shares in the last quarter. Janus Henderson Group PLC grew its position in Amylyx Pharmaceuticals by 76.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company's stock worth $53,992,000 after purchasing an additional 1,929,639 shares during the last quarter. Paradigm Biocapital Advisors LP purchased a new stake in Amylyx Pharmaceuticals during the 3rd quarter worth approximately $25,821,000. Finally, Commodore Capital LP increased its stake in Amylyx Pharmaceuticals by 38.6% during the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company's stock valued at $68,252,000 after purchasing an additional 1,574,522 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMLX shares. Mizuho raised their price target on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an "outperform" rating in a report on Monday, July 20th. Guggenheim boosted their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.62.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $18.41 on Monday. Amylyx Pharmaceuticals, Inc. has a 52 week low of $7.48 and a 52 week high of $19.15. The business's 50 day moving average price is $15.88 and its 200 day moving average price is $15.19. The firm has a market cap of $2.05 billion, a P/E ratio of -12.27 and a beta of -0.20.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.03). As a group, research analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the sale, the insider owned 194,090 shares in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by insiders.

Amylyx Pharmaceuticals Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx's research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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