Amylyx Pharmaceuticals (NASDAQ:AMLX) Shares Up 9% – Still a Buy?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)’s share price was up 9% during trading on Tuesday . The company traded as high as $13.85 and last traded at $13.9110. Approximately 199,343 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,263,664 shares. The stock had previously closed at $12.76.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 25th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Guggenheim raised their target price on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Stifel Nicolaus began coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They set a “buy” rating and a $21.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Amylyx Pharmaceuticals Price Performance

The company has a 50-day moving average of $14.42 and a two-hundred day moving average of $13.75. The company has a market capitalization of $1.53 billion, a PE ratio of -8.94 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. As a group, research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Insider Activity

In other news, CEO Joshua B. Cohen sold 136,193 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $13.59, for a total transaction of $1,850,862.87. Following the sale, the chief executive officer owned 3,378,621 shares in the company, valued at $45,915,459.39. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $13.89, for a total transaction of $27,710.55. Following the completion of the transaction, the chief executive officer directly owned 3,379,398 shares in the company, valued at $46,939,838.22. This trade represents a 0.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 151,203 shares of company stock worth $2,028,385 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at about $25,000. California State Teachers Retirement System bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth about $45,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after buying an additional 3,493 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

About Amylyx Pharmaceuticals

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.