Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,440 shares of the company’s stock after selling 110,671 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.70% of Amylyx Pharmaceuticals worth $1,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMLX. China Universal Asset Management Co. Ltd. increased its position in shares of Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares during the last quarter. Algert Global LLC acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $47,000. CWM LLC raised its position in Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after purchasing an additional 14,613 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after purchasing an additional 13,509 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after buying an additional 29,697 shares during the period. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. The trade was a 7.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the transaction, the chief executive officer now owns 3,120,569 shares in the company, valued at $9,985,820.80. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMLX has been the topic of several research reports. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $11.43.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $5.14 on Monday. The stock has a fifty day moving average price of $4.88 and a 200 day moving average price of $3.07. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $19.95. The company has a market cap of $352.35 million, a PE ratio of -1.35 and a beta of -0.68.

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.