Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) CFO Sells $349,811.60 in Stock

Key Points

• Amylyx CFO James Frates sold 10,810 shares for approximately $349,812 at an average price of $32.36. The sale covered tax withholding obligations, reducing his holdings by 4.42% to 233,625 shares.
• Amylyx shares rose 6.4% to $33.64, with a market capitalization of roughly $3.75 billion. The stock has traded between $10.83 and $41.14 over the past year.
• Analysts maintain a generally positive view, with a consensus “Buy” rating and an average price target of $36.50, although the company recently missed quarterly EPS estimates and is expected to post a loss for the year.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) CFO James Frates sold 10,810 shares of Amylyx Pharmaceuticals stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $32.36, for a total value of $349,811.60. Following the transaction, the chief financial officer owned 233,625 shares of the company's stock, valued at $7,560,105. The trade was a 4.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amylyx Pharmaceuticals Stock Up 6.4%

Shares of NASDAQ AMLX traded up $2.02 during trading on Monday, reaching $33.64. The company had a trading volume of 1,816,910 shares, compared to its average volume of 1,682,389. Amylyx Pharmaceuticals, Inc. has a 12-month low of $10.83 and a 12-month high of $41.14. The stock has a market cap of $3.75 billion, a PE ratio of -23.52 and a beta of -0.13. The business's 50-day moving average is $25.69 and its 200 day moving average is $18.87.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results 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). On average, analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMLX. Guggenheim increased their price target on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Mizuho boosted their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. Citigroup upped their price objective on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Wolfe Research upgraded Amylyx Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 17th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $36.50.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. KBC Group NV purchased a new position in shares of Amylyx Pharmaceuticals during the first quarter valued at approximately $26,000. State of Wyoming purchased a new stake in Amylyx Pharmaceuticals in the second quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd grew its position in Amylyx Pharmaceuticals by 954.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock worth $47,000 after purchasing an additional 3,493 shares during the period. ACT Capital Management LLC bought a new stake in Amylyx Pharmaceuticals in the 4th quarter worth approximately $109,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at $140,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

About Amylyx Pharmaceuticals

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