Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Sees Large Decline in Short Interest

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,490,000 shares, a drop of 24.4% from the August 15th total of 1,970,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is currently 0.9 days. Currently, 3.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

AMLX has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Amylyx Pharmaceuticals in a research note on Wednesday, July 10th. The Goldman Sachs Group boosted their target price on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.60.

Amylyx Pharmaceuticals Stock Performance

AMLX traded up $0.05 during mid-day trading on Monday, reaching $2.67. 289,855 shares of the stock were exchanged, compared to its average volume of 2,117,809. The company has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $2.84. The stock has a market capitalization of $181.58 million, a PE ratio of -2.48 and a beta of -0.62. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.35). The firm had revenue of ($1.02) million for the quarter, compared to analysts’ expectations of $18.83 million. Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. During the same quarter last year, the firm posted $0.31 earnings per share. Sell-side analysts expect that Amylyx Pharmaceuticals will post -2.27 EPS for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, Director George M. Milne, Jr. bought 100,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 858,571 shares of the company’s stock, valued at $1,888,856.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently modified their holdings of AMLX. Allspring Global Investments Holdings LLC grew its position in Amylyx Pharmaceuticals by 52,575.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock valued at $43,000 after buying an additional 15,247 shares during the period. Algert Global LLC bought a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $47,000. CWM LLC increased its stake in shares of Amylyx Pharmaceuticals by 104.2% during the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after purchasing an additional 14,613 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $89,000. Finally, SG Americas Securities LLC raised its holdings in shares of Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after purchasing an additional 29,697 shares during the period. 95.84% of the stock is owned by institutional investors.

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.