Seven Fleet Capital Management LP Invests $261.14 Million in Amylyx Pharmaceuticals, Inc. $AMLX

Seven Fleet Capital Management LP acquired a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,540 shares of the company’s stock, valued at approximately $261,138,000.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth about $158,534,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after purchasing an additional 3,102,395 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Amylyx Pharmaceuticals by 0.4% during the 2nd quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock worth $50,654,000 after purchasing an additional 28,017 shares during the last quarter. TCG Crossover Management LLC grew its holdings in shares of Amylyx Pharmaceuticals by 5.0% during the third quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock worth $84,853,000 after buying an additional 300,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after buying an additional 531,162 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Down 1.0%

AMLX stock opened at $37.08 on Thursday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -25.93 and a beta of -0.21. The business has a fifty day simple moving average of $21.72 and a 200-day simple moving average of $17.20. Amylyx Pharmaceuticals, Inc. has a 52 week low of $8.94 and a 52 week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). As a group, analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was 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 in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMLX. Mizuho increased their price target on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th. Robert W. Baird upped their target price on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Citigroup upped their target price on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $36.25.

About Amylyx Pharmaceuticals