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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of the firm’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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Amylyx Pharmaceuticals Price Performance

NASDAQ AMLX opened at $3.77 on Friday. The company’s 50 day simple moving average is $4.87 and its two-hundred day simple moving average is $3.44. The stock has a market capitalization of $258.43 million, a PE ratio of -0.99 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $19.95.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after purchasing an additional 5,104 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $47,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Amylyx Pharmaceuticals by 88.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock valued at $55,000 after purchasing an additional 13,509 shares during the last quarter. 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 purchasing an additional 27,954 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at about $156,000. 95.84% of the stock is currently owned by institutional investors.

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.