Stock Traders Purchase High Volume of Call Options on Amylyx Pharmaceuticals (NASDAQ:AMLX)

Key Points

• Traders bought 3,000 call options on Amylyx on Monday — a roughly 1,740% increase over the average daily call volume of 163, indicating unusually heavy bullish options activity.
• Shares fell 2.2% to $17.96 on Monday with volume of 109,232 versus an average of ~1.28M; the company has a market cap of $1.99B, negative earnings (P/E -11.59), and a consensus analyst rating of Moderate Buy with an average price target of $20.11.
• Institutional investors own about 95.84% of Amylyx stock, though several hedge funds and asset managers recently made small changes to their holdings.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) saw unusually large options trading activity on Monday. Traders acquired 3,000 call options on the company. This represents an increase of 1,740% compared to the average daily volume of 163 call options.

Amylyx Pharmaceuticals Stock Down 2.2%

Shares of Amylyx Pharmaceuticals stock traded down $0.40 during trading hours on Monday, reaching $17.96. 109,232 shares of the company's stock were exchanged, compared to its average volume of 1,276,153. Amylyx Pharmaceuticals has a 1 year low of $3.94 and a 1 year high of $18.60. The company has a market capitalization of $1.99 billion, a P/E ratio of -11.59 and a beta of -0.22. The business has a fifty day moving average of $14.78 and a two-hundred day moving average of $14.04.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. As a group, research analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Analyst Ratings Changes

AMLX has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a "buy" rating and a $21.00 price objective for the company. Bank of America upped their price objective on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Finally, Guggenheim upped their price objective on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Amylyx Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $20.11.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Amylyx Pharmaceuticals in the third quarter valued at about $48,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock valued at $47,000 after purchasing an additional 3,493 shares during the period. California State Teachers Retirement System purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at about $28,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Amylyx Pharmaceuticals by 54.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company's stock valued at $64,000 after purchasing an additional 1,890 shares during the period. Institutional investors and hedge funds own 95.84% of the company's stock.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx's research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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.