Marshall Wace LLP Sells 99,308 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Marshall Wace LLP lessened its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,678 shares of the company's stock after selling 99,308 shares during the period. Marshall Wace LLP owned approximately 0.27% of Amylyx Pharmaceuticals worth $698,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at about $45,000. RPO LLC purchased a new position in Amylyx Pharmaceuticals in the fourth quarter worth about $46,000. EntryPoint Capital LLC bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth approximately $53,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

Insider Transactions at Amylyx Pharmaceuticals

In other news, Director Bernhardt G. Zeiher acquired 10,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $3.70 per share, for a total transaction of $37,000.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $37,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joshua B. Cohen sold 21,490 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the transaction, the chief executive officer now directly owns 3,355,280 shares of the company's stock, valued at $11,642,821.60. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,980 shares of company stock worth $168,627 in the last three months. Corporate insiders own 11.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMLX. Mizuho raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $3.00 to $7.00 in a research report on Monday, April 7th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Finally, Leerink Partners raised Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $4.00 to $10.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $9.00.

Amylyx Pharmaceuticals Stock Up 4.4 %

NASDAQ:AMLX traded up $0.21 on Wednesday, hitting $4.86. The stock had a trading volume of 2,507,178 shares, compared to its average volume of 1,234,754. The business's 50-day simple moving average is $3.98 and its two-hundred day simple moving average is $4.23. The stock has a market cap of $432.50 million, a price-to-earnings ratio of -1.27 and a beta of -0.60. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million for the quarter. As a group, equities research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

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.