Wellington Management Group LLP Increases Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Key Points

• Wellington Management Group LLP has increased its stake in Amylyx Pharmaceuticals by 38.6%, now owning a total of 290,682 shares valued at approximately $1,029,000.
• Amylyx Pharmaceuticals has seen significant activity from institutional investors, with over 95% of the company's stock owned by entities like Bank of America and Aberdeen Group.
• The stock of Amylyx Pharmaceuticals recently opened at $9.38, and analysts have generally given it a "Buy" rating with an average price target of $12.25.

Wellington Management Group LLP lifted its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 290,682 shares of the company's stock after purchasing an additional 80,974 shares during the quarter. Wellington Management Group LLP owned 0.33% of Amylyx Pharmaceuticals worth $1,029,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE grew 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 valued at $9,171,000 after acquiring an additional 1,513,748 shares in the last quarter. Aberdeen Group plc lifted its holdings 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 buying an additional 707,553 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Amylyx Pharmaceuticals by 862.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company's stock valued at $1,786,000 after purchasing an additional 423,316 shares during the last quarter. Jane Street Group LLC grew its holdings 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 stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth about $1,315,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Cowen initiated coverage on Amylyx Pharmaceuticals in a research note on Friday, May 30th. They issued a "buy" rating for the company. Citigroup assumed coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They issued a "buy" rating and a $12.00 target price for the company. The Goldman Sachs Group upgraded Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday, July 10th. UBS Group raised Amylyx Pharmaceuticals to a "hold" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $12.25.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX traded up $0.03 during midday trading on Friday, reaching $9.98. 228,025 shares of the company traded hands, compared to its average volume of 1,130,923. The firm has a market capitalization of $889.83 million, a price-to-earnings ratio of -3.99 and a beta of -0.44. The company has a fifty day moving average price of $8.07 and a 200 day moving average price of $5.65. Amylyx Pharmaceuticals, Inc. has a twelve month low of $2.28 and a twelve month high of $10.19.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). On average, equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Amylyx Pharmaceuticals 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.