Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Up 8.3% in April

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 6,510,000 shares, an increase of 8.3% from the March 31st total of 6,010,000 shares. Approximately 13.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,160,000 shares, the short-interest ratio is presently 2.1 days.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $1.81 on Wednesday. The company has a market cap of $123.10 million, a P/E ratio of 2.59 and a beta of -0.93. Amylyx Pharmaceuticals has a 1 year low of $1.70 and a 1 year high of $30.50. The stock’s fifty day moving average price is $6.37 and its 200-day moving average price is $12.04.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $108.45 million for the quarter, compared to the consensus estimate of $106.40 million. Amylyx Pharmaceuticals had a return on equity of 12.39% and a net margin of 12.94%. During the same period in the prior year, the company posted ($0.65) earnings per share. On average, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -1.01 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In related news, CEO Joshua B. Cohen sold 4,135 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total transaction of $77,448.55. Following the transaction, the chief executive officer now directly owns 3,023,002 shares of the company’s stock, valued at approximately $56,620,827.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 4,135 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total value of $77,448.55. Following the transaction, the chief executive officer now directly owns 3,023,002 shares of the company’s stock, valued at approximately $56,620,827.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gina Mazzariello sold 2,838 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $18.76, for a total value of $53,240.88. Following the completion of the transaction, the insider now directly owns 46,245 shares in the company, valued at $867,556.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,305 shares of company stock valued at $193,098. Corporate insiders own 11.80% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently bought and sold shares of AMLX. Stonepine Capital Management LLC increased its position in Amylyx Pharmaceuticals by 124.4% in the third quarter. Stonepine Capital Management LLC now owns 2,515,868 shares of the company’s stock worth $46,066,000 after buying an additional 1,394,840 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Amylyx Pharmaceuticals by 121.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,200 shares of the company’s stock worth $31,131,000 after buying an additional 932,000 shares in the last quarter. Avidity Partners Management LP increased its position in Amylyx Pharmaceuticals by 94.9% in the third quarter. Avidity Partners Management LP now owns 1,756,940 shares of the company’s stock worth $32,170,000 after buying an additional 855,540 shares in the last quarter. Franklin Resources Inc. increased its position in Amylyx Pharmaceuticals by 114.4% in the fourth quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company’s stock worth $19,504,000 after buying an additional 707,134 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in Amylyx Pharmaceuticals in the third quarter worth about $11,897,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMLX shares. Robert W. Baird cut Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Monday, March 11th. The Goldman Sachs Group reissued a “neutral” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. Leerink Partnrs cut Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Amylyx Pharmaceuticals in a research report on Monday, April 8th. Finally, SVB Leerink lowered Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.67.

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.