Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) CFO Sells 10,558 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 10,558 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $14.65, for a total transaction of $154,674.70. Following the transaction, the chief financial officer directly owned 280,430 shares of the company’s stock, valued at approximately $4,108,299.50. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock opened at $13.29 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of -5.32 and a beta of -0.34. Amylyx Pharmaceuticals, Inc. has a 1-year low of $2.60 and a 1-year high of $15.15. The firm has a fifty day moving average of $10.19 and a two-hundred day moving average of $6.93.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Amylyx Pharmaceuticals by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares during the period. Woodline Partners LP acquired a new position in Amylyx Pharmaceuticals during the 1st quarter valued at about $5,697,000. Invesco Ltd. acquired a new position in Amylyx Pharmaceuticals during the 1st quarter valued at about $162,000. American Century Companies Inc. boosted its stake in Amylyx Pharmaceuticals by 80.4% during the 1st quarter. American Century Companies Inc. now owns 107,014 shares of the company’s stock valued at $379,000 after purchasing an additional 47,704 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Amylyx Pharmaceuticals during the 1st quarter valued at about $20,170,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on AMLX. The Goldman Sachs Group lifted their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Bank of America lifted their price target on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Guggenheim lifted their price target on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a report on Monday, September 15th. UBS Group raised shares of Amylyx Pharmaceuticals to a “hold” rating in a report on Tuesday, June 24th. Finally, Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.50.

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.