Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells 7,471 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the sale, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Amylyx Pharmaceuticals Stock Down 1.8 %

AMLX stock opened at $3.77 on Friday. The business has a 50 day moving average of $4.87 and a 200 day moving average of $3.44. The firm has a market cap of $258.43 million, a PE ratio of -0.99 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $19.95.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMLX. Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Finally, Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their target price for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $7.33.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its stake in Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Amylyx Pharmaceuticals by 88.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after buying an additional 13,509 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $47,000. Hsbc Holdings PLC increased its position in shares of Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after acquiring an additional 27,954 shares in the last quarter. Finally, Barclays PLC raised its holdings in Amylyx Pharmaceuticals by 91.1% in the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after acquiring an additional 40,319 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

About Amylyx Pharmaceuticals

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.