Orbimed Advisors LLC Takes Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Orbimed Advisors LLC acquired a new position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 4th quarter, Holdings Channel.com reports. The firm acquired 348,000 shares of the company’s stock, valued at approximately $1,315,000.

A number of other institutional investors also recently bought and sold shares of the stock. Barclays PLC grew its holdings in Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after purchasing an additional 40,319 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Amylyx Pharmaceuticals by 144.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after buying an additional 83,048 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after acquiring an additional 4,883 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Amylyx Pharmaceuticals in the 4th quarter worth approximately $56,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Amylyx Pharmaceuticals by 43.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after acquiring an additional 382,608 shares during the period. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $4.60 on Tuesday. The stock has a market capitalization of $409.79 million, a price-to-earnings ratio of -1.20 and a beta of -0.60. The company has a fifty day moving average of $4.07 and a 200 day moving average of $4.21. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. On average, equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,896 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $37,809.12. Following the completion of the transaction, the chief financial officer now owns 290,988 shares in the company, valued at $1,009,728.36. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joshua B. Cohen sold 21,490 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the transaction, the chief executive officer now directly owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,980 shares of company stock valued at $168,627 in the last quarter. 11.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMLX has been the topic of several analyst reports. Leerink Partners raised shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Mizuho raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $3.00 to $7.00 in a report on Monday, April 7th. Finally, HC Wainwright increased their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.67.

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.