Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Insider Sells 3,678 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Gina Mazzariello sold 3,678 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.49, for a total transaction of $12,836.22. Following the completion of the transaction, the insider now owns 139,090 shares of the company’s stock, valued at $485,424.10. This represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX traded up $0.07 during mid-day trading on Wednesday, reaching $3.69. The stock had a trading volume of 1,581,960 shares, compared to its average volume of 986,350. The firm has a market capitalization of $252.95 million, a price-to-earnings ratio of -0.97 and a beta of -0.54. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $19.95. The business has a 50 day simple moving average of $4.07 and a 200 day simple moving average of $3.66.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Amylyx Pharmaceuticals by 232.1% in the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after purchasing an additional 4,883 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after buying an additional 5,104 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Amylyx Pharmaceuticals in the fourth quarter valued at about $56,000. Algert Global LLC purchased a new position in Amylyx Pharmaceuticals in the second quarter valued at about $47,000. Finally, Barclays PLC increased its holdings in Amylyx Pharmaceuticals by 91.1% in the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after buying an additional 40,319 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMLX shares. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.33.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.