Amylyx Pharmaceuticals (NASDAQ:AMLX) Director Karen Firestone Purchases 8,100 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Director Karen Firestone acquired 8,100 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were bought at an average price of $12.45 per share, for a total transaction of $100,845.00. Following the acquisition, the director owned 63,100 shares in the company, valued at approximately $785,595. This trade represents a 14.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Amylyx Pharmaceuticals Price Performance

Amylyx Pharmaceuticals stock opened at $12.31 on Wednesday. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $16.96. The firm’s 50 day simple moving average is $13.72 and its 200-day simple moving average is $10.79. The company has a market cap of $1.35 billion, a P/E ratio of -6.84 and a beta of -0.34.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.06. On average, analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMLX. Adage Capital Partners GP L.L.C. lifted its stake in Amylyx Pharmaceuticals by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock valued at $56,408,000 after acquiring an additional 3,102,395 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of Amylyx Pharmaceuticals by 0.4% during the 2nd quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock valued at $50,654,000 after purchasing an additional 28,017 shares in the last quarter. TCG Crossover Management LLC lifted its stake in shares of Amylyx Pharmaceuticals by 5.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock valued at $84,853,000 after purchasing an additional 300,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Amylyx Pharmaceuticals by 17.2% in the third quarter. Vanguard Group Inc. now owns 5,273,750 shares of the company’s stock worth $71,670,000 after purchasing an additional 775,722 shares in the last quarter. Finally, Commodore Capital LP acquired a new position in Amylyx Pharmaceuticals during the third quarter worth $55,386,000. Institutional investors own 95.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMLX. Weiss Ratings reissued a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 15th. HC Wainwright increased their price target on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Citigroup boosted their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Lifesci Capital upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.