Joshua Cohen Sells 7,715 Shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua Cohen sold 7,715 shares of Amylyx Pharmaceuticals stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $11.09, for a total value of $85,559.35. Following the sale, the chief executive officer owned 3,317,586 shares in the company, valued at $36,792,028.74. The trade was a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Amylyx Pharmaceuticals Stock Down 1.3%

NASDAQ AMLX traded down $0.16 during trading hours on Thursday, reaching $11.83. 2,299,305 shares of the company were exchanged, compared to its average volume of 1,837,325. The stock has a market capitalization of $1.30 billion, a P/E ratio of -6.57 and a beta of -0.31. Amylyx Pharmaceuticals, Inc. has a 1 year low of $2.60 and a 1 year high of $16.96. The business’s 50 day simple moving average is $13.10 and its 200-day simple moving average is $11.26.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.06. As a group, sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMLX has been the topic of a number of research reports. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Bank of America boosted their price target on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Finally, Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 17th. Two investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AMLX. California State Teachers Retirement System bought a new stake in Amylyx Pharmaceuticals during the second quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $45,000. BNP Paribas Financial Markets boosted its position in shares of Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after acquiring an additional 5,904 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter worth about $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Amylyx Pharmaceuticals in the third quarter worth approximately $48,000. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.