Orbimed Advisors LLC Takes Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Orbimed Advisors LLC purchased a new position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 348,000 shares of the company's stock, valued at approximately $1,315,000. Orbimed Advisors LLC owned 0.51% of Amylyx Pharmaceuticals as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted 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 period. Fox Run Management L.L.C. bought a new position in Amylyx Pharmaceuticals in the fourth quarter worth about $45,000. Alpine Global Management LLC purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter worth about $45,000. RPO LLC bought a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at approximately $46,000. Finally, EntryPoint Capital LLC bought a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at approximately $53,000. Institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Trading Down 0.2%

Amylyx Pharmaceuticals stock opened at $4.60 on Tuesday. Amylyx Pharmaceuticals, Inc. has a 12 month low of $1.58 and a 12 month high of $7.27. The stock has a fifty day simple moving average of $4.07 and a two-hundred day simple moving average of $4.21. The firm has a market cap of $409.79 million, a price-to-earnings ratio of -1.20 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.03. On average, equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMLX shares. HC Wainwright raised their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Mizuho raised shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $3.00 to $7.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Amylyx Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $9.67.

Insider Activity

In related news, CFO James M. Frates sold 10,896 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 $37,809.12. Following the completion of the sale, the chief financial officer now owns 290,988 shares in the company, valued at approximately $1,009,728.36. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernhardt G. Zeiher bought 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was purchased at an average cost of $3.70 per share, for a total transaction of $37,000.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at $37,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 48,980 shares of company stock valued at $168,627 in the last ninety days. 11.70% of the stock is currently owned by company insiders.

Amylyx Pharmaceuticals Company 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.

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