Pictet Asset Management Holding SA Buys 158,217 Shares of Amylyx Pharmaceuticals, Inc. $AMLX

Pictet Asset Management Holding SA lifted its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 1,469.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,985 shares of the company’s stock after acquiring an additional 158,217 shares during the period. Pictet Asset Management Holding SA owned 0.15% of Amylyx Pharmaceuticals worth $4,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Amylyx Pharmaceuticals by 163.0% in the third quarter. GAMMA Investing LLC now owns 1,139 shares of the company’s stock worth $33,000 after purchasing an additional 706 shares during the period. ProShare Advisors LLC increased its stake in Amylyx Pharmaceuticals by 10.7% in the third quarter. ProShare Advisors LLC now owns 17,360 shares of the company’s stock valued at $505,000 after purchasing an additional 1,675 shares in the last quarter. Arizona State Retirement System increased its stake in Amylyx Pharmaceuticals by 9.5% in the second quarter. Arizona State Retirement System now owns 19,825 shares of the company’s stock valued at $356,000 after purchasing an additional 1,726 shares in the last quarter. KBC Group NV acquired a new position in shares of Amylyx Pharmaceuticals during the first quarter valued at about $26,000. Finally, State of Wyoming acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at about $40,000. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Trading Up 1.4%

NASDAQ AMLX traded up $0.43 during mid-day trading on Friday, hitting $30.29. The company’s stock had a trading volume of 1,616,682 shares, compared to its average volume of 1,395,550. The company’s 50 day simple moving average is $29.65 and its 200 day simple moving average is $20.78. Amylyx Pharmaceuticals, Inc. has a twelve month low of $10.83 and a twelve month high of $41.14. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -21.03 and a beta of -0.09.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.38) EPS for the quarter, meeting analysts’ consensus estimates of ($0.38). As a group, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.50 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMLX. Mizuho increased their price objective on shares of Amylyx Pharmaceuticals from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Tuesday, November 3rd. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Robert W. Baird upped their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Finally, Citigroup increased their price target on Amylyx Pharmaceuticals from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Amylyx Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $43.71.

Insider Buying and Selling at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 9,536 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $32.46, for a total value of $309,538.56. Following the sale, the insider owned 190,838 shares in the company, valued at $6,194,601.48. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Camille L. Bedrosian sold 10,028 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $32.40, for a total transaction of $324,907.20. Following the completion of the transaction, the insider directly owned 278,064 shares in the company, valued at approximately $9,009,273.60. The trade was a 3.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 60,374 shares of company stock valued at $1,815,257 over the last three months. Corporate insiders own 10.90% of the company’s stock.

Amylyx Pharmaceuticals 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.