OMERS ADMINISTRATION Corp Purchases 103,600 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• OMERS ADMINISTRATION Corp has increased its stake in Amylyx Pharmaceuticals by 157.0%, owning 169,600 shares valued at approximately $600,000 as of the end of the most recent quarter.
• The stock price of Amylyx Pharmaceuticals has seen a 6.4% increase, with current trading at around $9.98, following the company's quarterly earnings report showing a loss per share of ($0.46).
• Analysts have given a consensus rating of "Buy" for the stock, with price targets ranging from $10.00 to $17.00, reflecting optimism about the company's future performance.

OMERS ADMINISTRATION Corp raised its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 157.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,600 shares of the company's stock after buying an additional 103,600 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.19% of Amylyx Pharmaceuticals worth $600,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Amylyx Pharmaceuticals by 165.9% in the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after purchasing an additional 1,513,748 shares during the last quarter. Aberdeen Group plc raised its stake in shares of Amylyx Pharmaceuticals by 41.1% in the first quarter. Aberdeen Group plc now owns 2,430,358 shares of the company's stock worth $8,603,000 after purchasing an additional 707,553 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Amylyx Pharmaceuticals by 862.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company's stock worth $1,786,000 after purchasing an additional 423,316 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Amylyx Pharmaceuticals by 122.4% in the fourth quarter. Jane Street Group LLC now owns 765,475 shares of the company's stock worth $2,893,000 after purchasing an additional 421,302 shares during the last quarter. Finally, Orbimed Advisors LLC purchased a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth $1,315,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX traded up $0.25 during trading on Friday, hitting $10.20. 1,752,271 shares of the company's stock were exchanged, compared to its average volume of 1,245,855. Amylyx Pharmaceuticals, Inc. has a 52-week low of $2.28 and a 52-week high of $10.24. The business's 50-day simple moving average is $8.15 and its 200 day simple moving average is $5.70. The company has a market cap of $909.53 million, a price-to-earnings ratio of -4.08 and a beta of -0.44.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its earnings results 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). On average, sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen assumed coverage on Amylyx Pharmaceuticals in a research note on Friday, May 30th. They issued a "buy" rating for the company. The Goldman Sachs Group upgraded Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective for the company in a research report on Thursday, July 10th. Bank of America upped their price objective on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Mizuho upped their price target on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group started coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They issued a "hold" rating for the company. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $12.25.

About Amylyx Pharmaceuticals

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.