Amylyx Pharmaceuticals (NASDAQ:AMLX) Posts Earnings Results, Beats Estimates By $0.06 EPS

Amylyx Pharmaceuticals (NASDAQ:AMLX) announced its quarterly earnings results on Thursday. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.06, Zacks reports.

Amylyx Pharmaceuticals Stock Performance

AMLX traded down $0.15 during trading on Friday, hitting $12.31. The stock had a trading volume of 1,901,558 shares, compared to its average volume of 1,301,129. The stock has a 50 day simple moving average of $13.13 and a two-hundred day simple moving average of $8.78. Amylyx Pharmaceuticals has a twelve month low of $2.60 and a twelve month high of $16.96. The company has a market capitalization of $1.10 billion, a PE ratio of -4.92 and a beta of -0.34.

Insider Activity

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,558 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.65, for a total value of $154,674.70. Following the completion of the sale, the chief financial officer directly owned 280,430 shares in the company, valued at approximately $4,108,299.50. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Camille L. Bedrosian sold 12,039 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.58, for a total value of $175,528.62. Following the sale, the insider owned 182,336 shares in the company, valued at $2,658,458.88. The trade was a 6.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 91,333 shares of company stock worth $1,319,495. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors have recently bought and sold shares of AMLX. California State Teachers Retirement System acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. Legal & General Group Plc acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth $47,000. BNP Paribas Financial Markets grew its holdings in shares of Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter valued at $140,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $167,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, October 8th. Lifesci Capital upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Bank of America boosted their price objective on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Robert W. Baird upped their target price on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, HC Wainwright lifted their price target on Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.25.

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.