Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 165.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,426,263 shares of the company's stock after acquiring an additional 1,513,748 shares during the period. Bank of America Corp DE owned 3.54% of Amylyx Pharmaceuticals worth $9,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMLX. Blue Trust Inc. increased its position in Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after buying an additional 4,883 shares during the period. Fox Run Management L.L.C. acquired a new position in Amylyx Pharmaceuticals during the fourth quarter worth approximately $45,000. Alpine Global Management LLC acquired a new position in Amylyx Pharmaceuticals during the fourth quarter worth approximately $45,000. RPO LLC acquired a new position in Amylyx Pharmaceuticals during the fourth quarter worth approximately $46,000. Finally, EntryPoint Capital LLC acquired a new position in Amylyx Pharmaceuticals during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 95.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on AMLX shares. Leerink Partners raised Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $4.00 to $10.00 in a research report on Wednesday, May 7th. HC Wainwright lifted their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Mizuho lifted their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $9.83.

Insider Activity at Amylyx Pharmaceuticals

In related news, CEO Joshua B. Cohen sold 21,490 shares of Amylyx Pharmaceuticals 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 in the company, valued at $11,642,821.60. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $43,114.75. Following the completion of the sale, the insider now owns 194,375 shares in the company, valued at approximately $674,481.25. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,811 shares of company stock worth $155,494 over the last three months. 11.70% of the stock is currently owned by corporate insiders.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock traded down $0.01 during midday trading on Wednesday, hitting $4.72. The company had a trading volume of 252,118 shares, compared to its average volume of 1,216,661. The company's 50 day simple moving average is $4.36 and its 200 day simple moving average is $4.17. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $7.27. The stock has a market cap of $420.30 million, a price-to-earnings ratio of -1.24 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.03. Analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

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.