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

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.33.

A number of analysts have weighed in on AMLX shares. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Thursday, December 5th. Finally, Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a report on Monday, November 18th.

Insider Transactions at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was 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 in the company, valued at $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at $9,985,820.80. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after acquiring an additional 3,224,454 shares during the period. Almitas Capital LLC purchased a new stake in Amylyx Pharmaceuticals in the second quarter valued at approximately $3,617,000. abrdn plc increased its position in Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after purchasing an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $2,300,000. Finally, Alpha Wave Global LP purchased a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter worth $2,169,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Up 2.3 %

Shares of NASDAQ:AMLX opened at $4.05 on Friday. The stock has a market cap of $277.62 million, a price-to-earnings ratio of -1.06 and a beta of -0.68. The firm’s 50 day moving average price is $5.09 and its 200 day moving average price is $3.22. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95.

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.