Perceptive Advisors LLC Cuts Stock Position in Amylyx Pharmaceuticals, Inc. $AMLX

Perceptive Advisors LLC lowered its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,284,882 shares of the company’s stock after selling 667,483 shares during the period. Amylyx Pharmaceuticals makes up about 1.8% of Perceptive Advisors LLC’s portfolio, making the stock its 15th largest position. Perceptive Advisors LLC owned approximately 7.54% of Amylyx Pharmaceuticals worth $100,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Landscape Capital Management L.L.C. grew its position in shares of Amylyx Pharmaceuticals by 17.5% in the 4th quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock worth $148,000 after buying an additional 1,825 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 54.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after buying an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 14.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock worth $216,000 after buying an additional 2,265 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Amylyx Pharmaceuticals by 13.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 26,988 shares of the company’s stock worth $326,000 after buying an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Trading Up 1.3%

NASDAQ:AMLX opened at $15.25 on Thursday. The company has a market cap of $1.70 billion, a PE ratio of -10.17 and a beta of -0.16. Amylyx Pharmaceuticals, Inc. has a twelve month low of $4.80 and a twelve month high of $18.60. The company’s 50 day moving average is $15.15 and its two-hundred day moving average is $14.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMLX. Guggenheim lifted 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. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Stifel Nicolaus began coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Finally, Bank of America boosted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Amylyx Pharmaceuticals Profile

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.