Alpha Wave Global LP Buys 38,684 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Alpha Wave Global LP increased its stake in Amylyx Pharmaceuticals, Inc. by 26% during the first quarter, bringing its total holdings to 187,311 shares, valued at approximately $663,000.
• Several hedge funds, including Wellington Management Group and American Century Companies Inc., also raised their holdings in Amylyx, with American Century increasing by 80.4%.
• Amylyx Pharmaceuticals reported a loss of ($0.46) earnings per share for the last quarter, which was below analysts’ expectations of ($0.44).

Alpha Wave Global LP lifted its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,311 shares of the company's stock after purchasing an additional 38,684 shares during the period. Amylyx Pharmaceuticals comprises approximately 0.3% of Alpha Wave Global LP's investment portfolio, making the stock its 20th largest holding. Alpha Wave Global LP owned 0.21% of Amylyx Pharmaceuticals worth $663,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC raised its stake in Amylyx Pharmaceuticals by 24.7% in the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock valued at $51,000 after acquiring an additional 2,853 shares during the period. Wellington Management Group LLP raised its stake in Amylyx Pharmaceuticals by 38.6% in the 1st quarter. Wellington Management Group LLP now owns 290,682 shares of the company's stock valued at $1,029,000 after acquiring an additional 80,974 shares during the period. Algert Global LLC bought a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at about $202,000. American Century Companies Inc. raised its stake in Amylyx Pharmaceuticals by 80.4% in the 1st quarter. American Century Companies Inc. now owns 107,014 shares of the company's stock valued at $379,000 after acquiring an additional 47,704 shares during the period. Finally, Aberdeen Group plc raised its stake in Amylyx Pharmaceuticals by 41.1% in the 1st quarter. Aberdeen Group plc now owns 2,430,358 shares of the company's stock valued at $8,603,000 after acquiring an additional 707,553 shares during the period. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX traded down $0.03 during mid-day trading on Thursday, reaching $9.42. The stock had a trading volume of 1,494,198 shares, compared to its average volume of 1,175,333. The firm has a 50 day moving average price of $7.69 and a two-hundred day moving average price of $5.44. The stock has a market capitalization of $839.98 million, a P/E ratio of -3.77 and a beta of -0.46. Amylyx Pharmaceuticals, Inc. has a one year low of $2.08 and a one year high of $9.72.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). Research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

AMLX has been the subject of a number of recent analyst reports. Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Mizuho lifted their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Jefferies Financial Group began coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They set a "hold" rating for the company. Bank of America boosted their price objective on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday. Finally, The Goldman Sachs Group raised Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $12.25.

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.