Amylyx Pharmaceuticals, Inc. $AMLX Stake Boosted by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management LLC significantly increased its stake in Amylyx Pharmaceuticals by 102.1%, owning approximately 3.29% of the company following the purchase of additional shares valued at $10.4 million.
• Amylyx Pharmaceuticals reported a quarterly EPS of ($0.46), which was below analysts' expectations of ($0.44), with a forecasted EPS of -2.2 for the current fiscal year.
• Several analysts have raised their price targets for Amylyx Pharmaceuticals, with the consensus target now set at $12.25, reflecting a prevailing sentiment of "Buy" among the majority of research analysts.

Nantahala Capital Management LLC boosted its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 102.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,934,405 shares of the company's stock after purchasing an additional 1,482,252 shares during the quarter. Nantahala Capital Management LLC owned approximately 3.29% of Amylyx Pharmaceuticals worth $10,388,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMLX. Valeo Financial Advisors LLC bought a new stake in Amylyx Pharmaceuticals in the first quarter valued at $35,000. Alpine Global Management LLC bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. R Squared Ltd boosted its stake in Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock valued at $45,000 after purchasing an additional 6,366 shares during the period. Hsbc Holdings PLC boosted its stake in Amylyx Pharmaceuticals by 24.7% during the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock valued at $51,000 after purchasing an additional 2,853 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in 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 during the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMLX shares. Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Guggenheim started coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They set a "buy" rating and a $17.00 target price on the stock. Bank of America boosted their price target on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. TD Cowen started coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating on the stock. Finally, Citigroup started coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They set a "buy" rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $12.25.

Amylyx Pharmaceuticals Stock Up 2.5%

Amylyx Pharmaceuticals stock traded up $0.25 during midday trading on Friday, hitting $10.20. The company's stock had a trading volume of 1,752,271 shares, compared to its average volume of 1,245,855. Amylyx Pharmaceuticals, Inc. has a 12 month low of $2.28 and a 12 month high of $10.24. The company has a market capitalization of $909.53 million, a PE ratio of -4.08 and a beta of -0.44. The stock's 50-day moving average price is $8.15 and its 200-day moving average price is $5.70.

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

About Amylyx Pharmaceuticals

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.