Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates Sells 10,896 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates sold 10,896 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $37,809.12. Following the completion of the transaction, the chief financial officer now directly owns 290,988 shares of the company’s stock, valued at approximately $1,009,728.36. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock traded up $0.44 during midday trading on Wednesday, hitting $3.78. The company had a trading volume of 771,115 shares, compared to its average volume of 1,366,939. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $7.27. The business’s 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $4.05. The stock has a market cap of $334.92 million, a PE ratio of -0.99 and a beta of -0.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. On average, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $7.33.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of Amylyx Pharmaceuticals by 292.0% during the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock worth $716,000 after purchasing an additional 164,622 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Amylyx Pharmaceuticals by 144.4% during the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock worth $455,000 after buying an additional 83,048 shares in the last quarter. Barclays PLC increased its holdings in shares of Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after buying an additional 40,319 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Amylyx Pharmaceuticals by 986.5% in the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after acquiring an additional 608,874 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 17.5% in the 3rd quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after acquiring an additional 82,173 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

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.