Sofinnova Investments Inc. Purchases New Position in Amylyx Pharmaceuticals, Inc. $AMLX

Sofinnova Investments Inc. purchased a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 527,099 shares of the company’s stock, valued at approximately $6,367,000. Sofinnova Investments Inc. owned about 0.48% of Amylyx Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMLX. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals during the 4th quarter valued at about $25,000. California State Teachers Retirement System bought a new position in Amylyx Pharmaceuticals during the 2nd quarter valued at about $28,000. BNP Paribas Financial Markets lifted its holdings in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after purchasing an additional 5,904 shares during the last quarter. Legal & General Group Plc bought a new position in Amylyx Pharmaceuticals during the 2nd quarter valued at about $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Amylyx Pharmaceuticals during the 3rd quarter valued at about $48,000. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Trading Up 4.1%

AMLX opened at $15.19 on Tuesday. The stock has a market capitalization of $1.69 billion, a PE ratio of -10.13 and a beta of -0.16. Amylyx Pharmaceuticals, Inc. has a 1-year low of $4.80 and a 1-year high of $18.60. The firm has a 50-day moving average price of $15.16 and a two-hundred day moving average price of $14.27.

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

Analyst Ratings Changes

AMLX has been the subject of several analyst reports. Guggenheim lifted their price target on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Bank of America raised their price objective on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Mizuho raised their price objective on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.