Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Rating of “Moderate Buy” by Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.43.

Several equities research analysts have issued reports on AMLX shares. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. HC Wainwright lifted their price target on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Bank of America upgraded Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George M. Milne, Jr. purchased 100,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the purchase, the director now directly owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This trade represents a 13.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.70% of the stock is owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its stake in Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares during the period. Algert Global LLC purchased a new stake in Amylyx Pharmaceuticals during the second quarter worth about $47,000. CWM LLC increased its stake in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after purchasing an additional 14,613 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after purchasing an additional 13,509 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after buying an additional 29,697 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Stock Up 7.4 %

Shares of AMLX opened at $5.66 on Tuesday. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $19.95. The firm’s fifty day moving average is $4.44 and its two-hundred day moving average is $2.84. The stock has a market cap of $387.99 million, a PE ratio of -1.48 and a beta of -0.70.

Amylyx Pharmaceuticals Company Profile

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.