Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) Director Sells 30,000 Shares of Stock

Key Points

• Director George Milne Jr. sold 30,000 Amylyx Pharmaceuticals shares at an average price of $27.70, generating $831,000; he retained 782,881 shares worth approximately $21.7 million.
• AMLX shares traded at $27.43, with a $3.06 billion market capitalization and a 52-week range of $10.83 to $41.14. The company recently reported a quarterly loss of $0.39 per share, missing estimates by $0.03.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a $38.86 price target; institutional investors own 95.84% of the company.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) Director George Milne, Jr. sold 30,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $27.70, for a total transaction of $831,000.00. Following the completion of the transaction, the director directly owned 782,881 shares in the company, valued at $21,685,803.70. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock traded down $0.61 during midday trading on Wednesday, hitting $27.43. 2,056,628 shares of the company were exchanged, compared to its average volume of 1,658,016. The firm has a market capitalization of $3.06 billion, a P/E ratio of -19.18 and a beta of -0.10. The firm's 50 day moving average price is $29.98 and its two-hundred day moving average price is $20.80. Amylyx Pharmaceuticals, Inc. has a 52 week low of $10.83 and a 52 week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $158,534,000. Jupiter Topco LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $94,014,000. Janus Henderson Group PLC boosted its position in shares of Amylyx Pharmaceuticals by 11.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company's stock worth $69,257,000 after acquiring an additional 520,201 shares in the last quarter. Commodore Capital LP increased its stake in Amylyx Pharmaceuticals by 38.6% in the fourth quarter. Commodore Capital LP now owns 5,650,000 shares of the company's stock valued at $68,252,000 after acquiring an additional 1,574,522 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $18,912,000. Institutional investors own 95.84% of the company's stock.

Analysts Set New Price Targets

AMLX has been the subject of several research reports. Robert W. Baird lifted their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, August 19th. Wolfe Research raised Amylyx Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 17th. HC Wainwright increased their price objective on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Guggenheim lifted their target price on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Finally, Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of "Buy" and an average price target of $38.86.

About Amylyx Pharmaceuticals

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.