Wedbush Securities Inc. Invests $75,000 in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Wedbush Securities Inc. acquired a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 19,914 shares of the company’s stock, valued at approximately $75,000.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Amylyx Pharmaceuticals by 292.0% in the third quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after purchasing an additional 164,622 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Amylyx Pharmaceuticals by 144.4% in the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after acquiring an additional 83,048 shares in the last quarter. Barclays PLC increased its stake in shares of Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after acquiring an additional 40,319 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Amylyx Pharmaceuticals during the fourth quarter valued at approximately $56,000. Finally, Geode Capital Management LLC raised its holdings in Amylyx Pharmaceuticals by 17.5% during the third quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after purchasing an additional 82,173 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AMLX shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th. Mizuho raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their target price for the company from $3.00 to $7.00 in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX opened at $3.65 on Friday. The company has a market capitalization of $323.40 million, a PE ratio of -0.96 and a beta of -0.53. The stock has a fifty day moving average of $3.54 and a 200-day moving average of $4.08. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The firm had revenue of ($0.67) million during the quarter. As a group, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the completion of the sale, the chief executive officer now owns 3,201,247 shares in the company, valued at approximately $11,108,327.09. This represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernhardt G. Zeiher acquired 10,000 shares of the stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $37,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 64,509 shares of company stock worth $222,586 over the last ninety days. 11.70% of the stock is currently owned by company insiders.

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.