Nantahala Capital Management LLC Acquires New Stake in Amylyx Pharmaceuticals, Inc. $AMLX

Nantahala Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 486,684 shares of the company’s stock, valued at approximately $8,740,845.

A number of other institutional investors have also added to or reduced their stakes in the business. Landscape Capital Management L.L.C. raised its holdings in shares of Amylyx Pharmaceuticals by 17.5% in the 4th quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock valued at $148,000 after acquiring an additional 1,825 shares in the last quarter. KBC Group NV purchased a new stake in Amylyx Pharmaceuticals in the first quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $25,000. State of Wyoming purchased a new stake in Amylyx Pharmaceuticals in the second quarter valued at approximately $40,000. Finally, The Manufacturers Life Insurance Company lifted its position in Amylyx Pharmaceuticals by 13.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 26,988 shares of the company’s stock valued at $326,000 after purchasing an additional 3,198 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AMLX. Wolfe Research raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright lifted their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Citigroup boosted their price target on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $36.50.

Amylyx Pharmaceuticals Stock Down 6.6%

Shares of AMLX stock opened at $34.74 on Friday. The business’s fifty day moving average is $22.53 and its 200 day moving average is $17.49. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -24.29 and a beta of -0.21. Amylyx Pharmaceuticals, Inc. has a twelve month low of $9.15 and a twelve month high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data 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). Equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gina Mazzariello sold 15,000 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.90% of the company’s stock.

Amylyx Pharmaceuticals Profile