Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO Sells 10,896 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates sold 10,896 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $37,809.12. Following the transaction, the chief financial officer now owns 290,988 shares in the company, valued at $1,009,728.36. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Amylyx Pharmaceuticals Price Performance

AMLX stock traded up $0.44 during midday trading on Wednesday, hitting $3.78. The company’s stock had a trading volume of 771,115 shares, compared to its average volume of 1,366,939. The company’s fifty day moving average price is $3.55 and its 200 day moving average price is $4.05. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $7.27. The stock has a market capitalization of $334.92 million, a P/E ratio of -0.99 and a beta of -0.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million during the quarter. Equities analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Institutional Trading of Amylyx Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AMLX. Blue Trust Inc. grew its holdings in Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after purchasing an additional 4,883 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $45,000. Alpine Global Management LLC bought a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $45,000. RPO LLC acquired a new stake in Amylyx Pharmaceuticals during the 4th quarter worth approximately $46,000. Finally, EntryPoint Capital LLC bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Three 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 company’s stock. According to data from MarketBeat.com, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $7.33.

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.