Goldman Sachs Group Inc. Buys 143,065 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Goldman Sachs Group Inc. increased its stake in Amylyx Pharmaceuticals by 7.7%, owning approximately 2.25% of the company after acquiring an additional 143,065 shares during the first quarter.
• Shares of Amylyx Pharmaceuticals had a price target increase from $10.00 to $14.00 as per Bank of America, with multiple firms rating the stock as "Buy" or "Hold".
• Amylyx Pharmaceuticals reported earnings of ($0.46) per share in its last quarter, missing analysts' expectations, and is projected to post a -2.2 EPS for the current year.

Goldman Sachs Group Inc. raised its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,002,961 shares of the company's stock after acquiring an additional 143,065 shares during the period. Goldman Sachs Group Inc. owned about 2.25% of Amylyx Pharmaceuticals worth $7,090,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter valued at $20,170,000. Millennium Management LLC lifted its holdings in Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock valued at $10,910,000 after purchasing an additional 2,487,617 shares during the last quarter. Woodline Partners LP acquired a new position in Amylyx Pharmaceuticals in the first quarter valued at about $5,697,000. Bank of America Corp DE increased its holdings in shares of Amylyx Pharmaceuticals by 165.9% during the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after buying an additional 1,513,748 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its stake in shares of Amylyx Pharmaceuticals by 102.1% in the first quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company's stock valued at $10,388,000 after acquiring an additional 1,482,252 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on AMLX. Bank of America increased their price target on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. UBS Group raised Amylyx Pharmaceuticals to a "hold" rating in a research note on Tuesday, June 24th. Citigroup assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They issued a "buy" rating and a $12.00 target price on the stock. Finally, TD Cowen initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Friday, May 30th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $12.25.

Amylyx Pharmaceuticals Trading Down 1.6%

Shares of AMLX opened at $11.65 on Monday. The stock has a market cap of $1.04 billion, a P/E ratio of -4.66 and a beta of -0.45. Amylyx Pharmaceuticals, Inc. has a 1 year low of $2.48 and a 1 year high of $12.25. The stock's 50-day moving average price is $8.64 and its two-hundred day moving average price is $6.01.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). As a group, equities analysts forecast 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.

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