Joshua B. Cohen Sells 21,490 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen sold 21,490 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now directly owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock traded up $0.44 during trading hours on Wednesday, reaching $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 has a market capitalization of $334.92 million, a P/E ratio of -0.99 and a beta of -0.51. The stock’s fifty day simple moving average is $3.55 and its two-hundred day simple moving average is $4.05. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. As a group, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted 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 last quarter. Fox Run Management L.L.C. purchased a new position in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $45,000. Alpine Global Management LLC bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $45,000. RPO LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter valued at approximately $46,000. Finally, EntryPoint Capital LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth $53,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.