First Light Asset Management LLC Has $54.30 Million Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• First Light Asset Management reduced its Amylyx Pharmaceuticals stake by 5.2% in the second quarter, selling 167,389 shares but retaining 3.02 million shares valued at approximately $54.3 million.
• Institutional ownership remains high at 95.84%, with several major investors—including California State Teachers Retirement System and Alyeska Investment Group—building or initiating positions during the quarter.
• Amylyx shares opened at $32.40, well above their 50-day and 200-day moving averages. Analysts maintain an overall “Buy” consensus with an average price target of $36.50, despite the company missing its latest quarterly EPS estimate.

First Light Asset Management LLC decreased its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,023,256 shares of the company's stock after selling 167,389 shares during the quarter. Amylyx Pharmaceuticals comprises 3.3% of First Light Asset Management LLC's holdings, making the stock its 10th largest holding. First Light Asset Management LLC owned 2.71% of Amylyx Pharmaceuticals worth $54,298,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Amylyx Pharmaceuticals in the 2nd quarter valued at about $157,000. Arizona State Retirement System raised its stake in shares of Amylyx Pharmaceuticals by 9.5% in the second quarter. Arizona State Retirement System now owns 19,825 shares of the company's stock worth $356,000 after purchasing an additional 1,726 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth approximately $1,065,000. California State Teachers Retirement System lifted its holdings in shares of Amylyx Pharmaceuticals by 2,106.9% in the second quarter. California State Teachers Retirement System now owns 1,434,501 shares of the company's stock valued at $25,764,000 after purchasing an additional 1,369,499 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $18,912,000. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX opened at $32.40 on Thursday. The firm has a fifty day moving average of $25.15 and a 200 day moving average of $18.62. Amylyx Pharmaceuticals, Inc. has a 52-week low of $10.83 and a 52-week high of $41.14. The firm has a market capitalization of $3.61 billion, a PE ratio of -22.66 and a beta of -0.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.03). On average, sell-side analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the business's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares in the company, valued at $3,555,728.80. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMLX. Guggenheim raised 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. Citigroup boosted their price target on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Robert W. Baird lifted their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Finally, Wolfe Research raised Amylyx Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $36.50.

Amylyx Pharmaceuticals Profile

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