Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 58.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,779 shares of the company’s stock after selling 40,624 shares during the period. Rhumbline Advisers’ holdings in Amylyx Pharmaceuticals were worth $55,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its position in Amylyx Pharmaceuticals by 5.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock valued at $226,000 after purchasing an additional 6,116 shares during the period. Swiss National Bank raised its stake in shares of Amylyx Pharmaceuticals by 8.7% during the 1st quarter. Swiss National Bank now owns 86,600 shares of the company’s stock valued at $246,000 after buying an additional 6,900 shares during the last quarter. Seven Eight Capital LP lifted its holdings in shares of Amylyx Pharmaceuticals by 11.5% in the 4th quarter. Seven Eight Capital LP now owns 66,801 shares of the company’s stock valued at $983,000 after buying an additional 6,910 shares during the period. Sectoral Asset Management Inc. boosted its stake in shares of Amylyx Pharmaceuticals by 14.1% in the fourth quarter. Sectoral Asset Management Inc. now owns 84,055 shares of the company’s stock worth $1,237,000 after buying an additional 10,400 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after acquiring an additional 13,509 shares during the period. 95.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director George M. Milne, Jr. bought 100,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO James M. Frates purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the transaction, the chief financial officer now owns 233,464 shares of the company’s stock, valued at $590,663.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George M. Milne, Jr. acquired 100,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the purchase, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMLX shares. The Goldman Sachs Group boosted their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Friday, July 12th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Amylyx Pharmaceuticals in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.60.

Amylyx Pharmaceuticals Trading Up 5.2 %

Shares of AMLX stock opened at $3.24 on Tuesday. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $19.95. The business’s 50 day moving average is $2.33 and its two-hundred day moving average is $2.15. The company has a market capitalization of $220.34 million, a P/E ratio of -3.03 and a beta of -0.62.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. The business had revenue of ($1.02) million for the quarter, compared to analyst estimates of $18.83 million. During the same period in the previous year, the company earned $0.31 earnings per share. On average, research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.27 earnings per share for the current fiscal year.

Amylyx Pharmaceuticals 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.