Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 4,970,000 shares, a growth of 18.3% from the April 30th total of 4,200,000 shares. Based on an average trading volume of 913,100 shares, the short-interest ratio is currently 5.4 days. Currently, 7.6% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMLX. Leerink Partners raised shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their target price for the company from $4.00 to $10.00 in a research report on Wednesday, May 7th. Leerink Partnrs raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. 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, May 9th. Mizuho boosted their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. Finally, TD Cowen began coverage on shares of Amylyx Pharmaceuticals in a research report on Friday, May 30th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.83.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $43,114.75. Following the transaction, the insider now owns 194,375 shares of the company’s stock, valued at $674,481.25. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bernhardt G. Zeiher bought 10,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $3.70 per share, with a total value of $37,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $37,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 44,811 shares of company stock worth $155,494 over the last ninety days. Insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its position in shares of Amylyx Pharmaceuticals by 18.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company’s stock worth $61,000 after acquiring an additional 2,653 shares in the last quarter. Hsbc Holdings PLC lifted its position in Amylyx Pharmaceuticals by 24.7% during the first quarter. Hsbc Holdings PLC now owns 14,419 shares of the company’s stock valued at $51,000 after buying an additional 2,853 shares during the period. Blue Trust Inc. boosted its holdings 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 buying an additional 4,883 shares in the last quarter. XTX Topco Ltd grew its position in shares of Amylyx Pharmaceuticals by 12.0% in the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company’s stock worth $202,000 after buying an additional 5,704 shares during the period. Finally, R Squared Ltd increased its stake in shares of Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after acquiring an additional 6,366 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Trading Down 3.9%

Shares of AMLX opened at $4.92 on Thursday. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $7.27. The company has a market cap of $438.57 million, a PE ratio of -1.29 and a beta of -0.60. The stock has a 50-day moving average price of $4.51 and a 200-day moving average price of $4.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.03. As a group, analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

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.