Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Baird R W

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by research analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright upped their price target on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $11.00 in a research report on Monday. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $11.43.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX opened at $5.22 on Monday. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The company has a market capitalization of $357.83 million, a PE ratio of -1.37 and a beta of -0.70. The stock has a fifty day moving average of $4.22 and a two-hundred day moving average of $2.74.

Insider Buying and Selling at Amylyx Pharmaceuticals

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMLX. Barclays PLC lifted its stake in Amylyx Pharmaceuticals by 91.1% in the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after buying an additional 40,319 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 17.5% in the 3rd quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after acquiring an additional 82,173 shares during the period. Walleye Capital LLC increased its holdings in shares of Amylyx Pharmaceuticals by 986.5% in the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock worth $2,173,000 after acquiring an additional 608,874 shares during the period. Alpha Wave Global LP bought a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at about $2,169,000. Finally, FMR LLC boosted its stake in Amylyx Pharmaceuticals by 292.0% during the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after purchasing an additional 164,622 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.