Amylyx Pharmaceuticals (NASDAQ:AMLX) Insider Sells $274,800.00 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the sale, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Amylyx Pharmaceuticals Trading Down 2.3%

Shares of AMLX opened at $17.78 on Thursday. The firm has a fifty day simple moving average of $15.41 and a two-hundred day simple moving average of $14.90. The firm has a market cap of $1.98 billion, a PE ratio of -11.85 and a beta of -0.20. Amylyx Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $19.15.

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

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Commodore Capital LP purchased a new position in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at $55,386,000. First Light Asset Management LLC purchased a new stake in Amylyx Pharmaceuticals in the 3rd quarter worth $45,606,000. Adage Capital Partners GP L.L.C. increased its stake in Amylyx Pharmaceuticals by 54.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after buying an additional 3,102,395 shares in the last quarter. Millennium Management LLC raised its holdings in Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after acquiring an additional 2,487,617 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Amylyx Pharmaceuticals by 76.1% during the fourth quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock valued at $53,992,000 after acquiring an additional 1,929,639 shares during the period. 95.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. Guggenheim increased their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Mizuho lifted their price target on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.25.

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.