Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen Sells 11,851 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now owns 3,201,247 shares of the company’s stock, valued at $11,108,327.09. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $3.69 on Thursday. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $19.95. The company has a market cap of $252.95 million, a PE ratio of -0.97 and a beta of -0.54. The firm’s 50 day simple moving average is $4.07 and its 200 day simple moving average is $3.66.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently modified their holdings of AMLX. FMR LLC increased its position in Amylyx Pharmaceuticals by 292.0% during the 3rd 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. abrdn plc increased its position in shares of Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after buying an additional 1,853,995 shares during the period. JPMorgan Chase & Co. raised its stake in 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 during the last quarter. Alpha Wave Global LP acquired a new position in Amylyx Pharmaceuticals in the third quarter valued at $2,169,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Amylyx Pharmaceuticals by 41.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock valued at $2,854,000 after acquiring an additional 258,818 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analysts Set New Price Targets

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