Amylyx Pharmaceuticals (NASDAQ:AMLX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a hold rating to a sell rating in a research report report published on Saturday.

Several other brokerages have also recently weighed in on AMLX. TD Cowen initiated coverage on Amylyx Pharmaceuticals in a research note on Friday, May 30th. They set a “buy” rating for the company. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Finally, Mizuho lifted their price target on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

Amylyx Pharmaceuticals Trading Down 1.4%

AMLX stock opened at $5.44 on Friday. The firm’s 50-day moving average is $4.82 and its two-hundred day moving average is $4.13. The company has a market capitalization of $484.93 million, a price-to-earnings ratio of -1.42 and a beta of -0.59. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.03. On average, equities research analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $43,114.75. Following the transaction, the insider now owns 194,375 shares of the company’s stock, valued at $674,481.25. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bernhardt G. Zeiher purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $3.70 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $37,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 44,811 shares of company stock valued at $155,494. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of AMLX. Blue Trust Inc. boosted its position in Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after purchasing an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at about $35,000. Fox Run Management L.L.C. bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at approximately $45,000. Alpine Global Management LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at approximately $45,000. Finally, R Squared Ltd raised its position in Amylyx Pharmaceuticals by 99.9% during the first quarter. R Squared Ltd now owns 12,736 shares of the company’s stock valued at $45,000 after acquiring an additional 6,366 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other 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.