Corient Private Wealth LP Purchases New Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Corient Private Wealth LP acquired 59,322 Amylyx Pharmaceuticals shares worth approximately $1.1 million during the second quarter, while institutional investors and hedge funds collectively own 95.84% of AMLX.
• Analysts remain broadly bullish, with an average “Buy” rating and a $36.50 consensus price target; several firms recently raised their targets to between $52 and $57.
• AMLX shares opened at $34.10, up 0.4%, but Amylyx reported a quarterly loss of $0.39 per share, missing expectations of a $0.36 loss.

Corient Private Wealth LP bought a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,322 shares of the company's stock, valued at approximately $1,065,000. Corient Private Wealth LP owned approximately 0.05% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMLX. BlackRock Inc. bought a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at $158,534,000. Adage Capital Partners GP L.L.C. grew its position in Amylyx Pharmaceuticals by 54.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company's stock worth $56,408,000 after purchasing an additional 3,102,395 shares during the period. Perceptive Advisors LLC lifted its holdings in Amylyx Pharmaceuticals by 0.4% in the second quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company's stock valued at $50,654,000 after acquiring an additional 28,017 shares during the period. TCG Crossover Management LLC grew its position in Amylyx Pharmaceuticals by 5.0% during the third quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company's stock valued at $84,853,000 after buying an additional 300,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company's stock valued at $70,123,000 after purchasing an additional 531,162 shares during the period. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright increased their target price on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Robert W. Baird increased their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Finally, Wolfe Research raised Amylyx Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $36.50.

Amylyx Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ AMLX opened at $34.10 on Friday. The firm has a 50-day moving average price of $24.23 and a 200 day moving average price of $18.18. Amylyx Pharmaceuticals, Inc. has a 52 week low of $9.75 and a 52 week high of $41.14. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -23.85 and a beta of -0.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the transaction, the insider directly owned 194,090 shares in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.90% of the stock is owned by company insiders.

Amylyx Pharmaceuticals Profile

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