Amylyx Pharmaceuticals (NASDAQ:AMLX) CFO Sells 10,810 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 10,810 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $32.36, for a total value of $349,811.60. Following the sale, the chief financial officer owned 233,625 shares of the company’s stock, valued at approximately $7,560,105. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amylyx Pharmaceuticals Stock Up 6.4%

NASDAQ:AMLX traded up $2.02 on Monday, hitting $33.64. The stock had a trading volume of 1,816,910 shares, compared to its average volume of 1,682,389. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -23.52 and a beta of -0.13. The business’s 50-day simple moving average is $25.69 and its two-hundred day simple moving average is $18.87. Amylyx Pharmaceuticals, Inc. has a 52-week low of $10.83 and a 52-week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, equities research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Analyst Upgrades and Downgrades

AMLX has been the topic of several recent research reports. Mizuho increased their price target on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Robert W. Baird upped their price objective on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Citigroup raised their target price on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Finally, Wolfe Research raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $36.50.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at $26,000. State of Wyoming bought a new position in Amylyx Pharmaceuticals in the 2nd quarter worth $40,000. Caitong International Asset Management Co. Ltd boosted its holdings in Amylyx Pharmaceuticals by 954.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after buying an additional 3,493 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth $157,000. Finally, ACT Capital Management LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter valued at about $109,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals