Amylyx Pharmaceuticals, Inc. $AMLX Shares Acquired by Alpha Wave Global LP

Alpha Wave Global LP increased its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,312 shares of the company’s stock after acquiring an additional 51,470 shares during the period. Amylyx Pharmaceuticals makes up about 0.5% of Alpha Wave Global LP’s portfolio, making the stock its 18th biggest holding. Alpha Wave Global LP owned about 0.30% of Amylyx Pharmaceuticals worth $4,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter worth $45,000. BNP Paribas Financial Markets raised its holdings in shares of Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after purchasing an additional 5,904 shares during the last quarter. Legal & General Group Plc acquired a new position in Amylyx Pharmaceuticals during the second quarter valued at $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Amylyx Pharmaceuticals in the third quarter valued at $48,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $13.99 on Friday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -9.03 and a beta of -0.31. The business has a 50-day moving average of $14.20 and a two-hundred day moving average of $13.43. Amylyx Pharmaceuticals, Inc. has a 1 year low of $3.11 and a 1 year high of $17.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. As a group, equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. HC Wainwright increased their price target on Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Stifel Nicolaus began coverage on Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Bank of America lifted their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 1,995 shares of the company’s 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 136,193 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $13.59, for a total transaction of $1,850,862.87. Following the completion of the sale, the chief executive officer owned 3,378,621 shares of the company’s stock, valued at $45,915,459.39. This trade represents a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 151,203 shares of company stock valued at $2,028,385. Company insiders own 12.30% 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.