Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Up 5.9% in August

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,970,000 shares, a growth of 5.9% from the July 31st total of 1,860,000 shares. Based on an average daily volume of 1,670,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 4.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMLX shares. The Goldman Sachs Group lifted their price target on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Mizuho decreased their target price on shares of Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.60.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Amylyx Pharmaceuticals by 69.4% in the 4th 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. New York State Common Retirement Fund raised its holdings in shares of Amylyx Pharmaceuticals by 11.9% in the fourth quarter. New York State Common Retirement Fund now owns 23,754 shares of the company’s stock valued at $350,000 after buying an additional 2,519 shares during the last quarter. Swiss National Bank lifted its position in Amylyx Pharmaceuticals by 19.8% during the 4th quarter. Swiss National Bank now owns 79,700 shares of the company’s stock worth $1,173,000 after buying an additional 13,200 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amylyx Pharmaceuticals by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 387,620 shares of the company’s stock worth $5,706,000 after acquiring an additional 21,758 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Amylyx Pharmaceuticals by 38.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 59,111 shares of the company’s stock valued at $870,000 after acquiring an additional 16,327 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX opened at $2.22 on Tuesday. The business has a fifty day moving average of $2.01 and a two-hundred day moving average of $3.77. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $22.03. The stock has a market cap of $150.97 million, a PE ratio of -2.07 and a beta of -0.63.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). The firm had revenue of ($1.02) million during the quarter, compared to analyst estimates of $18.83 million. Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. During the same quarter last year, the firm earned $0.31 earnings per share. Analysts predict that Amylyx Pharmaceuticals will post -2.27 earnings per share for the current year.

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.