Amylyx Pharmaceuticals, Inc. $AMLX Stock Position Lifted by Alpha Wave Global LP

Alpha Wave Global LP raised its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 47.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 275,842 shares of the company’s stock after buying an additional 88,531 shares during the quarter. Amylyx Pharmaceuticals accounts for about 0.2% of Alpha Wave Global LP’s holdings, making the stock its 27th biggest position. Alpha Wave Global LP owned approximately 0.31% of Amylyx Pharmaceuticals worth $1,768,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Saturn V Capital Management LP grew its stake in Amylyx Pharmaceuticals by 34.4% in the 2nd quarter. Saturn V Capital Management LP now owns 3,260,570 shares of the company’s stock valued at $20,900,000 after buying an additional 834,134 shares during the last quarter. Invesco Ltd. grew its position in shares of Amylyx Pharmaceuticals by 1,184.4% in the second quarter. Invesco Ltd. now owns 586,883 shares of the company’s stock valued at $3,762,000 after purchasing an additional 541,189 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of Amylyx Pharmaceuticals in the second quarter worth about $140,000. Quadrature Capital Ltd lifted its position in shares of Amylyx Pharmaceuticals by 130.9% during the 2nd quarter. Quadrature Capital Ltd now owns 29,430 shares of the company’s stock worth $188,000 after purchasing an additional 16,686 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Amylyx Pharmaceuticals stock opened at $14.49 on Friday. The business has a 50 day simple moving average of $14.00 and a 200 day simple moving average of $10.02. The company has a market capitalization of $1.59 billion, a PE ratio of -8.05 and a beta of -0.34. Amylyx Pharmaceuticals, Inc. has a one year low of $2.60 and a one year high of $16.96.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.06. Equities analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. The Goldman Sachs Group lifted their price target on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, November 24th. Bank of America increased their price target on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Citigroup boosted their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Robert W. Baird upped their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.25.

Insider Activity

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 29,975 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.38, for a total value of $431,040.50. Following the transaction, the chief executive officer directly owned 3,325,301 shares in the company, valued at $47,817,828.38. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Camille L. Bedrosian sold 12,039 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.58, for a total transaction of $175,528.62. Following the sale, the insider directly owned 182,336 shares of the company’s stock, valued at approximately $2,658,458.88. The trade was a 6.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 97,913 shares of company stock worth $1,413,918 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

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.