Short Interest in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Grows By 23.6%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,940,000 shares, an increase of 23.6% from the December 31st total of 1,570,000 shares. Currently, 4.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is currently 1.6 days.

Amylyx Pharmaceuticals Stock Up 1.4 %

AMLX stock opened at $3.51 on Friday. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95. The stock’s 50 day moving average is $4.21 and its 200-day moving average is $3.61. The firm has a market capitalization of $240.61 million, a PE ratio of -0.92 and a beta of -0.53.

Insider Activity

In related news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the sale, the chief executive officer now owns 3,176,788 shares in the company, valued at $12,834,223.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMLX. AQR Capital Management LLC increased its position in shares of Amylyx Pharmaceuticals by 2,768.0% during the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after acquiring an additional 3,224,454 shares during the last quarter. abrdn plc increased its position in shares of Amylyx Pharmaceuticals by 1,567.9% during 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. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Amylyx Pharmaceuticals by 41.6% during the third 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 last quarter. Renaissance Technologies LLC increased its position in shares of Amylyx Pharmaceuticals by 15.2% during the second quarter. Renaissance Technologies LLC now owns 811,488 shares of the company’s stock valued at $1,542,000 after acquiring an additional 106,888 shares during the last quarter. Finally, Walleye Capital LLC increased its position in shares of Amylyx Pharmaceuticals by 986.5% during the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after acquiring an additional 608,874 shares during the last quarter. Institutional investors own 95.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMLX. 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. Bank of America upgraded Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a report on Monday, November 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.33.

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.