Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 22.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 241,400 shares of the company's stock after selling 68,100 shares during the period. Two Sigma Advisers LP owned about 0.35% of Amylyx Pharmaceuticals worth $912,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. XTX Topco Ltd grew its position in Amylyx Pharmaceuticals by 12.0% in the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company's stock worth $202,000 after purchasing an additional 5,704 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Amylyx Pharmaceuticals by 11.8% during the 4th quarter. Northern Trust Corp now owns 106,564 shares of the company's stock worth $403,000 after acquiring an additional 11,214 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth about $45,000. Finally, Alpine Global Management LLC bought a new position in Amylyx Pharmaceuticals during the 4th quarter valued at about $45,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Up 2.6%

Shares of NASDAQ:AMLX traded up $0.13 during midday trading on Thursday, hitting $5.05. 693,014 shares of the stock traded hands, compared to its average volume of 1,204,976. The stock has a market capitalization of $450.16 million, a PE ratio of -1.32 and a beta of -0.59. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $7.27. The business's 50 day moving average is $4.51 and its two-hundred day moving average is $4.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.03. As a group, sell-side analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMLX. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. HC Wainwright upped their target price on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 9th. TD Cowen assumed coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They issued a "buy" rating for the company. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Finally, Mizuho increased their target price on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $9.83.

Insider Buying and Selling

In other news, insider Camille L. Bedrosian sold 12,425 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $43,114.75. Following the completion of the transaction, the insider now owns 194,375 shares in the company, valued at $674,481.25. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 21,490 shares of the firm'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 value of $74,570.30. Following the sale, the chief executive officer now directly owns 3,355,280 shares of the company's stock, valued at $11,642,821.60. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,811 shares of company stock valued at $155,494. 11.70% of the stock is owned by insiders.

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.