Alyeska Investment Group L.P. Decreases Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Alyeska Investment Group L.P. reduced its stake in Amylyx Pharmaceuticals (NASDAQ:AMLX) by 8.9%, selling 73,008 shares and now holding 750,412 shares valued at $2.66 million.
• Amylyx Pharmaceuticals reported a quarterly loss of ($0.46) earnings per share, missing analysts' estimates of ($0.44).
• Institutional investors own an overwhelming 95.84% of Amylyx Pharmaceuticals' stock, indicating strong institutional support for the company.

Alyeska Investment Group L.P. cut its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 750,412 shares of the company's stock after selling 73,008 shares during the period. Alyeska Investment Group L.P. owned about 0.84% of Amylyx Pharmaceuticals worth $2,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. 683 Capital Management LLC lifted its stake in Amylyx Pharmaceuticals by 24.9% during the first quarter. 683 Capital Management LLC now owns 2,411,400 shares of the company's stock worth $8,536,000 after purchasing an additional 481,400 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $20,170,000. ADAR1 Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 14,615.9% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,471,587 shares of the company's stock valued at $5,209,000 after buying an additional 1,461,587 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Amylyx Pharmaceuticals in the 1st quarter valued at $79,000. Finally, Nantahala Capital Management LLC raised its stake in Amylyx Pharmaceuticals by 102.1% during the 1st quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company's stock worth $10,388,000 after acquiring an additional 1,482,252 shares in the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on AMLX shares. Jefferies Financial Group started coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. TD Cowen began coverage on Amylyx Pharmaceuticals in a research report on Friday, May 30th. They issued a "buy" rating for the company. Wall Street Zen upgraded Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Bank of America raised their target price on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, UBS Group upgraded shares of Amylyx Pharmaceuticals to a "hold" rating in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $12.25.

Amylyx Pharmaceuticals Stock Up 0.1%

Shares of Amylyx Pharmaceuticals stock traded up $0.01 during trading on Thursday, reaching $11.84. The company's stock had a trading volume of 2,633,395 shares, compared to its average volume of 1,654,748. The business has a 50 day moving average price of $8.53 and a 200-day moving average price of $5.91. Amylyx Pharmaceuticals, Inc. has a 12-month low of $2.47 and a 12-month high of $12.25. The company has a market capitalization of $1.06 billion, a P/E ratio of -4.74 and a beta of -0.44.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released 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). Research analysts predict 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.