Charles Schwab Investment Management Inc. Boosts Stake in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Amylyx Pharmaceuticals by 24.7% in the first quarter, owning approximately 0.42% of the company worth $1.32 million.
• Recently, several hedge funds made changes to their positions in Amylyx Pharmaceuticals, highlighting a growing interest in the company’s stock; institutional investors now own 95.84% of the company's stock.
• Amylyx Pharmaceuticals recently reported a quarterly loss of ($0.46) earnings per share, missing analysts' estimations, and analysts forecast a full-year EPS of -2.2.

Charles Schwab Investment Management Inc. raised its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 24.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 372,853 shares of the company's stock after acquiring an additional 73,904 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.42% of Amylyx Pharmaceuticals worth $1,320,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMLX. China Universal Asset Management Co. Ltd. increased its holdings in shares of Amylyx Pharmaceuticals by 18.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock valued at $61,000 after acquiring an additional 2,653 shares during the last quarter. R Squared Ltd boosted its holdings in Amylyx Pharmaceuticals by 99.9% in the first quarter. R Squared Ltd now owns 12,736 shares of the company's stock valued at $45,000 after purchasing an additional 6,366 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Amylyx Pharmaceuticals in the first quarter valued at approximately $35,000. Northern Trust Corp raised its holdings in Amylyx Pharmaceuticals by 11.8% during the fourth quarter. Northern Trust Corp now owns 106,564 shares of the company's stock worth $403,000 after purchasing an additional 11,214 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Leerink Partners raised shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and increased their target price for the company from $4.00 to $10.00 in a research report on Wednesday, May 7th. Bank of America upped their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Jefferies Financial Group initiated coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "hold" rating for the company. Guggenheim started coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They set a "buy" rating and a $17.00 price target on the stock. Finally, HC Wainwright increased 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. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $12.25.

Amylyx Pharmaceuticals Trading Up 1.1%

Shares of Amylyx Pharmaceuticals stock traded up $0.11 during trading hours on Thursday, hitting $9.95. 752,598 shares of the company were exchanged, compared to its average volume of 1,136,381. The business has a 50-day moving average of $8.01 and a 200-day moving average of $5.61. Amylyx Pharmaceuticals, Inc. has a 1 year low of $2.09 and a 1 year high of $10.06. The stock has a market capitalization of $887.24 million, a price-to-earnings ratio of -3.98 and a beta of -0.44.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced 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). As a group, research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal 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.