Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) Insider Sells $324,907.20 in Stock

Key Points

• Insider sale: Amylyx executive Camille Bedrosian sold 10,028 shares for approximately $324,907, reducing her holdings by 3.48%. The sale was made to cover tax withholding obligations tied to vested equity awards.
• Stock and earnings: AMLX traded at $33.64, well above its 50-day and 200-day moving averages, but the company reported a quarterly loss of $0.39 per share, missing estimates by $0.03.
• Investor outlook: Institutional investors own 95.84% of the stock, while analysts maintain a consensus “Buy” rating with an average price target of $36.50.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) insider Camille Bedrosian sold 10,028 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $32.40, for a total transaction of $324,907.20. Following the sale, the insider directly owned 278,064 shares in the company, valued at approximately $9,009,273.60. This represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amylyx Pharmaceuticals Price Performance

Amylyx Pharmaceuticals stock traded up $2.02 during mid-day 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 1 year low of $10.83 and a 1 year high of $41.14. The company has a market capitalization of $3.75 billion, a P/E ratio of -23.52 and a beta of -0.13. The stock's 50-day simple moving average is $25.69 and its 200-day simple moving average is $18.87.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). On average, equities analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMLX. BlackRock Inc. acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at $158,534,000. Jupiter Topco LLC acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth about $94,014,000. Commodore Capital LP boosted its stake in Amylyx Pharmaceuticals by 38.6% in the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company's stock worth $68,252,000 after buying an additional 1,574,522 shares during the last quarter. California State Teachers Retirement System grew its holdings in Amylyx Pharmaceuticals by 2,106.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,434,501 shares of the company's stock valued at $25,764,000 after buying an additional 1,369,499 shares during the period. Finally, Siren L.L.C. purchased a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at about $17,097,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMLX shares. Citigroup upped their target price on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Mizuho lifted their price target on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 18th. Wolfe Research raised shares of Amylyx Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 17th. Guggenheim raised their target price 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. Finally, HC Wainwright upped their price target on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $36.50.

Amylyx Pharmaceuticals Company Profile

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