Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Justin Klee Sells 29,975 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin Klee sold 29,975 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.38, for a total transaction of $431,040.50. Following the completion of the transaction, the chief executive officer owned 3,325,301 shares of the company’s stock, valued at $47,817,828.38. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Amylyx Pharmaceuticals Trading Down 5.1%

Amylyx Pharmaceuticals stock opened at $13.29 on Friday. Amylyx Pharmaceuticals, Inc. has a 1-year low of $2.60 and a 1-year high of $15.15. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.32 and a beta of -0.34. The firm has a 50 day simple moving average of $10.19 and a 200 day simple moving average of $6.93.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). On average, equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Analyst Ratings Changes

AMLX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Jefferies Financial Group initiated coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a “hold” rating for the company. Bank of America boosted their price target on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, The Goldman Sachs Group boosted their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $14.50.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently made changes to their positions in AMLX. Adage Capital Partners GP L.L.C. bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter worth $20,170,000. Millennium Management LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after acquiring an additional 2,487,617 shares during the last quarter. Woodline Partners LP bought a new stake in Amylyx Pharmaceuticals in the first quarter worth $5,697,000. Nantahala Capital Management LLC lifted its stake in Amylyx Pharmaceuticals by 102.1% in the first quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company’s stock worth $10,388,000 after purchasing an additional 1,482,252 shares during the last quarter. Finally, ADAR1 Capital Management LLC lifted its stake in Amylyx Pharmaceuticals by 14,615.9% in the first quarter. ADAR1 Capital Management LLC now owns 1,471,587 shares of the company’s stock worth $5,209,000 after purchasing an additional 1,461,587 shares during the last quarter. 95.84% of the stock is owned by institutional investors.

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.