Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) Insider Sells 15,000 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the sale, the insider directly owned 194,090 shares of the company’s stock, valued at $3,555,728.80. The trade was a 7.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX traded down $0.36 during midday trading on Monday, reaching $17.41. 1,466,151 shares of the stock were exchanged, compared to its average volume of 1,320,710. The business has a 50-day simple moving average of $15.32 and a two-hundred day simple moving average of $14.78. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -11.61 and a beta of -0.20. Amylyx Pharmaceuticals, Inc. has a 12 month low of $7.48 and a 12 month high of $19.15.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals in the third quarter valued at about $45,606,000. Maven Securities LTD acquired a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at approximately $951,000. Commodore Capital LP bought a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at $55,386,000. Ally Bridge Group NY LLC acquired a new position in Amylyx Pharmaceuticals during the third quarter worth $5,944,000. Finally, Vanguard Group Inc. raised its holdings in shares of Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock valued at $70,123,000 after purchasing an additional 531,162 shares during the period. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Company Profile

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.