Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 594,236 shares of the company's stock after buying an additional 137,420 shares during the quarter. Millennium Management LLC owned 0.87% of Amylyx Pharmaceuticals worth $2,246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC raised its stake in shares of Amylyx Pharmaceuticals by 862.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company's stock valued at $1,786,000 after purchasing an additional 423,316 shares during the period. Bridgeway Capital Management LLC grew its stake in Amylyx Pharmaceuticals by 12.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 146,500 shares of the company's stock valued at $554,000 after purchasing an additional 16,500 shares in the last quarter. Bank of America Corp DE increased its holdings in Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after purchasing an additional 1,513,748 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter worth approximately $191,000. Finally, Almitas Capital LLC raised its position in shares of Amylyx Pharmaceuticals by 2.2% in the 4th quarter. Almitas Capital LLC now owns 2,032,370 shares of the company's stock valued at $7,682,000 after purchasing an additional 43,807 shares in the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMLX. Leerink Partners raised shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $4.00 to $10.00 in a research report on Wednesday, May 7th. Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Mizuho upped their target price on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. TD Cowen assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Friday. They set a "buy" rating on the stock. Finally, HC Wainwright boosted their price objective on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $9.83.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 10,896 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 290,988 shares in the company, valued at approximately $1,009,728.36. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bernhardt G. Zeiher bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $37,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 44,811 shares of company stock worth $155,494. Insiders own 11.70% of the company's stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX traded up $0.02 during trading on Tuesday, reaching $5.12. 1,008,300 shares of the company's stock traded hands, compared to its average volume of 1,209,898. The stock has a market capitalization of $456.40 million, a P/E ratio of -1.34 and a beta of -0.60. Amylyx Pharmaceuticals, Inc. has a 12 month low of $1.58 and a 12 month high of $7.27. The company has a 50 day moving average of $4.46 and a 200-day moving average of $4.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.03. Equities research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share 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.