Commodore Capital LP Buys 1,574,522 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Commodore Capital LP lifted its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 38.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,650,000 shares of the company’s stock after buying an additional 1,574,522 shares during the quarter. Amylyx Pharmaceuticals comprises about 4.5% of Commodore Capital LP’s portfolio, making the stock its 9th largest holding. Commodore Capital LP owned approximately 5.14% of Amylyx Pharmaceuticals worth $68,252,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AMLX. First Light Asset Management LLC bought a new position in Amylyx Pharmaceuticals in the 3rd quarter valued at about $45,606,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Amylyx Pharmaceuticals by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after acquiring an additional 3,102,395 shares during the period. Millennium Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 418.6% during the first 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 period. Paradigm Biocapital Advisors LP acquired a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $25,821,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $20,063,000. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $15.25 on Thursday. The company has a market capitalization of $1.70 billion, a P/E ratio of -10.17 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 business’s 50 day simple moving average is $15.15 and its 200 day simple moving average is $14.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced 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, sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMLX. Stifel Nicolaus initiated coverage on Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price target for the company. Bank of America upped their price objective on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, February 20th. Mizuho increased their price objective on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.