Alpha Wave Global LP Has $562,000 Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Alpha Wave Global LP reduced its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 77.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,627 shares of the company’s stock after selling 520,860 shares during the period. Amylyx Pharmaceuticals comprises about 0.3% of Alpha Wave Global LP’s investment portfolio, making the stock its 18th biggest position. Alpha Wave Global LP owned 0.22% of Amylyx Pharmaceuticals worth $562,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, CEO Joshua B. Cohen sold 21,490 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernhardt G. Zeiher acquired 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $3.70 per share, with a total value of $37,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $37,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 64,509 shares of company stock valued at $222,586 over the last three months. Company insiders own 11.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMLX. Mizuho raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $3.00 to $7.00 in a research note on Monday, April 7th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Amylyx Pharmaceuticals Trading Up 4.2 %

Amylyx Pharmaceuticals stock opened at $3.98 on Friday. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $7.27. The company’s 50-day moving average is $3.55 and its two-hundred day moving average is $4.09. The company has a market cap of $352.64 million, a PE ratio of -1.04 and a beta of -0.53.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million for the quarter. Research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

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.