HC Wainwright Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target boosted by HC Wainwright from $20.00 to $28.00 in a report released on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on AMLX. Robert W. Baird increased 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Citigroup upped their price objective on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Lifesci Capital upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.25.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX opened at $14.89 on Tuesday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -8.27 and a beta of -0.31. The business has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $12.48. Amylyx Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $17.49.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 3,326 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the transaction, the chief financial officer directly owned 177,104 shares of the company’s stock, valued at $1,967,625.44. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Justin B. Klee sold 1,995 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $13.89, for a total transaction of $27,710.55. Following the completion of the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. This represents a 0.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 157,783 shares of company stock valued at $2,122,808. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMLX. Mirae Asset Global Investments Co. Ltd. increased its stake in Amylyx Pharmaceuticals by 54.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after buying an additional 1,890 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Amylyx Pharmaceuticals by 14.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock valued at $216,000 after purchasing an additional 2,265 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Amylyx Pharmaceuticals in the 3rd quarter worth approximately $48,000. California State Teachers Retirement System purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. Finally, Valeo Financial Advisors LLC raised its position in shares of Amylyx Pharmaceuticals by 50.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 15,000 shares of the company’s stock valued at $181,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.