Amylyx Pharmaceuticals (NASDAQ:AMLX) Insider Sells $175,528.62 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Camille Bedrosian sold 12,039 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total transaction of $175,528.62. Following the completion of the sale, the insider directly owned 182,336 shares in the company, valued at approximately $2,658,458.88. The trade was a 6.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Amylyx Pharmaceuticals Stock Down 5.1%

Shares of NASDAQ:AMLX opened at $13.29 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -5.32 and a beta of -0.34. The firm’s 50-day simple moving average is $10.19 and its 200-day simple moving average is $6.93. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $15.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in shares of Amylyx Pharmaceuticals by 18.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company’s stock valued at $61,000 after buying an additional 2,653 shares during the last quarter. Hsbc Holdings PLC grew its stake in Amylyx Pharmaceuticals by 24.7% during the first quarter. Hsbc Holdings PLC now owns 14,419 shares of the company’s stock worth $51,000 after buying an additional 2,853 shares during the period. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at $28,000. BNP Paribas Financial Markets boosted its stake in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after acquiring an additional 5,904 shares during the last quarter. Finally, R Squared Ltd lifted its position in shares of Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after buying an additional 6,366 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group raised shares of Amylyx Pharmaceuticals to a “hold” rating in a report on Tuesday, June 24th. Guggenheim lifted their target price on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a report on Monday, September 15th. Jefferies Financial Group initiated coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They set a “hold” rating on the stock. The Goldman Sachs Group boosted their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Citigroup initiated coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They set a “buy” rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.50.

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.