Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,570,000 shares, a growth of 8.3% from the November 30th total of 1,450,000 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is currently 1.2 days.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock opened at $3.78 on Thursday. The company has a market capitalization of $259.11 million, a PE ratio of -0.99 and a beta of -0.68. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The firm has a 50 day moving average price of $5.03 and a 200 day moving average price of $3.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Amylyx Pharmaceuticals by 144.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock worth $455,000 after acquiring an additional 83,048 shares in the last quarter. Barclays PLC increased its stake in Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after purchasing an additional 40,319 shares during the period. Geode Capital Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 17.5% during the third quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after purchasing an additional 82,173 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Amylyx Pharmaceuticals by 986.5% in the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after purchasing an additional 608,874 shares during the period. Finally, Alpha Wave Global LP acquired a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $2,169,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.