Bank of America Corp DE Boosts Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

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

A number of other large investors have also modified their holdings of AMLX. Blue Trust Inc. lifted its stake in shares of Amylyx Pharmaceuticals by 232.1% in 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 in the last quarter. Fox Run Management L.L.C. acquired a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth approximately $45,000. RPO LLC acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $46,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Down 11.1%

NASDAQ:AMLX traded down $0.59 on Tuesday, reaching $4.72. The company's stock had a trading volume of 1,024,520 shares, compared to its average volume of 1,220,451. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $7.27. The stock has a 50 day moving average price of $4.34 and a 200 day moving average price of $4.16. The firm has a market cap of $420.75 million, a price-to-earnings ratio of -1.24 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.03. Equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Joshua B. Cohen sold 21,490 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the transaction, the chief executive officer now owns 3,355,280 shares of the company's stock, valued at approximately $11,642,821.60. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James M. Frates sold 10,896 shares of the business's 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 $37,809.12. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,811 shares of company stock valued at $155,494. Company insiders own 11.70% of the company's stock.

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.