Joshua B. Cohen Sells 11,851 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen sold 11,851 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now owns 3,201,247 shares of the company’s stock, valued at approximately $11,108,327.09. This represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Amylyx Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ AMLX opened at $3.69 on Thursday. The company has a market capitalization of $252.95 million, a PE ratio of -0.97 and a beta of -0.54. The stock’s 50 day moving average price is $4.07 and its 200-day moving average price is $3.66. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $19.95.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMLX. Squarepoint Ops LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 71.1% in the 2nd quarter. Squarepoint Ops LLC now owns 272,576 shares of the company’s stock worth $518,000 after buying an additional 113,267 shares during the last quarter. Algert Global LLC bought a new stake in Amylyx Pharmaceuticals in the second quarter worth about $47,000. abrdn plc boosted its stake in Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after acquiring an additional 1,853,995 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Amylyx Pharmaceuticals by 41.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock valued at $2,854,000 after acquiring an additional 258,818 shares during the period. Institutional investors own 95.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMLX. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Thursday, December 5th. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.33.

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.