Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Rating of “Moderate Buy” by Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.33.

A number of research analysts have commented on the stock. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $3.00 to $11.00 in a research report on Monday, November 18th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Thursday, December 5th. Finally, Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th.

Amylyx Pharmaceuticals Stock Up 2.9 %

AMLX stock opened at $3.60 on Wednesday. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $19.95. The stock has a market cap of $246.78 million, a price-to-earnings ratio of -0.94 and a beta of -0.53. The business has a fifty day moving average of $4.54 and a two-hundred day moving average of $3.53.

Insider Activity

In related news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the sale, the chief executive officer now directly owns 3,176,788 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after purchasing an additional 3,224,454 shares during the last quarter. Almitas Capital LLC purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth about $3,617,000. abrdn plc boosted its position in shares of Amylyx Pharmaceuticals by 1,567.9% during the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after acquiring an additional 1,853,995 shares in the last quarter. Alpha Wave Global LP purchased a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $2,169,000. Finally, Walleye Capital LLC raised its position in shares of Amylyx Pharmaceuticals by 986.5% during the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock worth $2,173,000 after acquiring an additional 608,874 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.