Ameriprise Financial Inc. Purchases Shares of 50,428 Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Ameriprise Financial Inc. purchased a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 50,428 shares of the company’s stock, valued at approximately $191,000. Ameriprise Financial Inc. owned 0.07% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after buying an additional 4,883 shares during the period. XTX Topco Ltd grew its holdings in shares of Amylyx Pharmaceuticals by 12.0% during the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company’s stock worth $202,000 after purchasing an additional 5,704 shares during the period. Northern Trust Corp grew its holdings in shares of Amylyx Pharmaceuticals by 11.8% during the 4th quarter. Northern Trust Corp now owns 106,564 shares of the company’s stock worth $403,000 after purchasing an additional 11,214 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth about $45,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, 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 value of $37,809.12. Following the transaction, the chief financial officer now directly owns 290,988 shares of the company’s stock, valued at $1,009,728.36. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Camille L. Bedrosian sold 12,425 shares of the company’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 $43,114.75. Following the completion of the transaction, the insider now directly owns 194,375 shares in the company, valued at approximately $674,481.25. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,811 shares of company stock worth $155,494 in the last 90 days. 11.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMLX shares. TD Cowen started coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a “buy” rating for the company. Leerink Partners upgraded Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Leerink Partnrs upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Mizuho boosted their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Finally, HC Wainwright boosted their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.83.

Amylyx Pharmaceuticals Stock Up 5.5%

NASDAQ AMLX opened at $5.33 on Friday. The stock has a market cap of $475.12 million, a PE ratio of -1.40 and a beta of -0.59. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $7.27. The business has a 50 day moving average price of $4.58 and a two-hundred day moving average price of $4.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal 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.