Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Sells $1,850,862.87 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua Cohen sold 136,193 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $13.59, for a total value of $1,850,862.87. Following the completion of the transaction, the chief executive officer directly owned 3,378,546 shares of the company’s stock, valued at approximately $45,914,440.14. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amylyx Pharmaceuticals Trading Down 4.1%

Amylyx Pharmaceuticals stock opened at $16.23 on Friday. The stock has a 50-day moving average price of $13.34 and a 200 day moving average price of $11.82. Amylyx Pharmaceuticals, Inc. has a 52 week low of $2.60 and a 52 week high of $17.49. The stock has a market cap of $1.78 billion, a PE ratio of -9.02 and a beta of -0.31.

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

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in AMLX. Millennium Management LLC raised its holdings in shares of Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after purchasing an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. increased its position 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 worth $7,090,000 after purchasing an additional 143,065 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Amylyx Pharmaceuticals in the second quarter valued at approximately $1,541,000. Los Angeles Capital Management LLC purchased a new position in Amylyx Pharmaceuticals in the second quarter valued at approximately $149,000. Finally, Acadian Asset Management LLC lifted its position in Amylyx Pharmaceuticals by 135.1% during the second quarter. Acadian Asset Management LLC now owns 569,083 shares of the company’s stock valued at $3,645,000 after buying an additional 326,976 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Analyst Ratings Changes

AMLX has been the topic of a number of recent analyst reports. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Bank of America increased their target price on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Robert W. Baird raised their price target on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. 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, November 7th. Finally, Citigroup increased their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

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.