Cormorant Asset Management LP Trims Stock Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Cormorant Asset Management LP cut its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 20.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 400,000 shares of the company’s stock after selling 100,000 shares during the quarter. Cormorant Asset Management LP’s holdings in Amylyx Pharmaceuticals were worth $4,832,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AMLX. Meeder Asset Management Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter worth $25,000. California State Teachers Retirement System acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $28,000. Legal & General Group Plc acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $47,000. BNP Paribas Financial Markets lifted its position in shares of Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after purchasing an additional 5,904 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Amylyx Pharmaceuticals in the third quarter worth about $48,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upped their price objective on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Mizuho raised their price target on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Guggenheim lifted their price target on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Stifel Nicolaus assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $15.25 on Thursday. The firm has a market capitalization of $1.70 billion, a PE ratio of -10.17 and a beta of -0.16. Amylyx Pharmaceuticals, Inc. has a 1-year low of $4.80 and a 1-year high of $18.60. The business’s fifty day moving average price is $15.15 and its two-hundred day moving average price is $14.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.4 earnings per share for the current fiscal year.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.