Connor Clark & Lunn Investment Management Ltd. Sells 45,206 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 3.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,154,485 shares of the company’s stock after selling 45,206 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.30% of Amylyx Pharmaceuticals worth $7,400,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in shares of Amylyx Pharmaceuticals by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares during the period. Invesco Ltd. bought a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at about $162,000. Woodline Partners LP acquired a new position in Amylyx Pharmaceuticals during the 1st quarter worth approximately $5,697,000. American Century Companies Inc. raised its stake in 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 buying an additional 47,704 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in Amylyx Pharmaceuticals in the first quarter worth approximately $20,170,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock opened at $12.33 on Thursday. The firm has a 50-day moving average of $13.35 and a 200-day moving average of $9.01. Amylyx Pharmaceuticals, Inc. has a one year low of $2.60 and a one year high of $16.96. The company has a market cap of $1.35 billion, a P/E ratio of -6.85 and a beta of -0.34.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. As a group, research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMLX has been the subject of several recent research reports. Citigroup boosted their price objective on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 17th. Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, September 15th. HC Wainwright upped their price objective on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Lifesci Capital upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,558 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $14.65, for a total value of $154,674.70. Following the completion of the transaction, the chief financial officer owned 280,430 shares in the company, valued at $4,108,299.50. This represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Camille L. Bedrosian sold 12,039 shares of Amylyx Pharmaceuticals stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $14.58, for a total value of $175,528.62. Following the sale, the insider owned 182,336 shares in the company, valued at $2,658,458.88. The trade was a 6.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 91,333 shares of company stock valued at $1,319,495. 12.30% of the stock is currently owned by insiders.

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.