Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee Sells 7,471 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the transaction, the chief executive officer now owns 3,176,788 shares in the company, valued at $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Amylyx Pharmaceuticals Stock Down 7.2 %

Shares of AMLX stock opened at $3.50 on Friday. The firm has a 50 day moving average of $4.83 and a two-hundred day moving average of $3.45. The stock has a market capitalization of $239.92 million, a PE ratio of -0.92 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $19.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its holdings in Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after buying an additional 13,509 shares during the period. Algert Global LLC acquired a new stake in Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. Hsbc Holdings PLC lifted its stake in Amylyx Pharmaceuticals by 57.9% in the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock worth $150,000 after acquiring an additional 27,954 shares during the last quarter. Finally, Barclays PLC grew its holdings in Amylyx Pharmaceuticals by 91.1% during the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after acquiring an additional 40,319 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.