Amylyx Pharmaceuticals (NASDAQ:AMLX) CFO James Frates Sells 10,558 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 10,558 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.65, for a total transaction of $154,674.70. Following the transaction, the chief financial officer owned 280,430 shares in the company, valued at approximately $4,108,299.50. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Amylyx Pharmaceuticals Trading Up 1.0%

Amylyx Pharmaceuticals stock opened at $13.42 on Friday. The company has a market cap of $1.20 billion, a PE ratio of -5.37 and a beta of -0.33. The company’s 50-day moving average is $10.29 and its two-hundred day moving average is $7.00. Amylyx Pharmaceuticals, Inc. has a 1 year low of $2.60 and a 1 year high of $15.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMLX shares. Citigroup started coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, June 17th. They issued a “buy” rating and a $12.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, UBS Group upgraded shares of Amylyx Pharmaceuticals to a “hold” rating in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $14.75.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in shares of Amylyx Pharmaceuticals by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock worth $7,090,000 after acquiring an additional 143,065 shares in the last quarter. Woodline Partners LP bought a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $5,697,000. Invesco Ltd. bought a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $162,000. American Century Companies Inc. grew its stake in shares of Amylyx Pharmaceuticals by 80.4% during the 1st quarter. American Century Companies Inc. now owns 107,014 shares of the company’s stock worth $379,000 after acquiring an additional 47,704 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $20,170,000. 95.84% of the stock is owned by institutional investors.

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.