abrdn plc Takes $2.88 Million Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

abrdn plc bought a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 195,493 shares of the company’s stock, valued at approximately $2,878,000.

Other hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its position in Amylyx Pharmaceuticals by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,730 shares of the company’s stock valued at $32,000 after purchasing an additional 850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Amylyx Pharmaceuticals by 16.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,134 shares of the company’s stock valued at $112,000 after purchasing an additional 859 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Amylyx Pharmaceuticals by 69.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company’s stock valued at $153,000 after purchasing an additional 4,255 shares during the last quarter. AXQ Capital LP bought a new stake in Amylyx Pharmaceuticals during the third quarter valued at approximately $198,000. Finally, Rafferty Asset Management LLC bought a new stake in Amylyx Pharmaceuticals during the third quarter valued at approximately $207,000. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ AMLX opened at $1.76 on Monday. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.70 and a 52 week high of $30.50. The firm’s fifty day moving average is $6.91 and its 200 day moving average is $12.26. The company has a market cap of $119.70 million, a price-to-earnings ratio of 2.51 and a beta of -0.93.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, February 22nd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Amylyx Pharmaceuticals had a net margin of 12.94% and a return on equity of 12.39%. The company had revenue of $108.45 million for the quarter, compared to the consensus estimate of $106.40 million. During the same period in the previous year, the firm earned ($0.65) earnings per share. Equities research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMLX shares. Mizuho lowered shares of Amylyx Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Monday, March 18th. Leerink Partnrs downgraded shares of Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. Evercore ISI reissued an “in-line” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. SVB Leerink downgraded shares of Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. Finally, Robert W. Baird downgraded shares of Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Monday, March 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has an average rating of “Hold” and an average target price of $32.67.

Insider Buying and Selling

In related news, CEO Joshua B. Cohen sold 4,135 shares of Amylyx Pharmaceuticals stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total value of $77,448.55. Following the transaction, the chief executive officer now directly owns 3,023,002 shares of the company’s stock, valued at $56,620,827.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 4,135 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $77,448.55. Following the transaction, the chief executive officer now directly owns 3,023,002 shares of the company’s stock, valued at approximately $56,620,827.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gina Mazzariello sold 2,838 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $18.76, for a total transaction of $53,240.88. Following the transaction, the insider now directly owns 46,245 shares in the company, valued at $867,556.20. The disclosure for this sale can be found here. Insiders have sold a total of 10,305 shares of company stock valued at $193,098 over the last three months. 11.80% of the stock is owned by company insiders.

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.