437,391 Shares in Amylyx Pharmaceuticals, Inc. $AMLX Purchased by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC acquired a new position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 437,391 shares of the company’s stock, valued at approximately $5,944,000. Amylyx Pharmaceuticals makes up approximately 3.6% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 9th biggest position. Ally Bridge Group NY LLC owned 0.40% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMLX. California State Teachers Retirement System bought a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $45,000. BNP Paribas Financial Markets boosted its stake in shares of Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares during the period. Legal & General Group Plc acquired a new stake in Amylyx Pharmaceuticals during the second quarter worth approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Amylyx Pharmaceuticals during the 3rd quarter worth $48,000. Institutional investors own 95.84% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Amylyx Pharmaceuticals 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 value of $36,951.86. Following the transaction, the chief financial officer owned 177,104 shares in the company, valued at $1,967,625.44. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justin B. Klee sold 1,995 shares of Amylyx Pharmaceuticals stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.89, for a total value of $27,710.55. Following the completion of the transaction, the chief executive officer owned 3,379,398 shares in the company, valued at approximately $46,939,838.22. This represents a 0.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 151,203 shares of company stock valued at $2,028,385. 12.30% of the stock is owned by corporate insiders.

Amylyx Pharmaceuticals Price Performance

NASDAQ AMLX opened at $13.99 on Friday. The business has a fifty day moving average price of $14.20 and a two-hundred day moving average price of $13.46. The stock has a market capitalization of $1.55 billion, a PE ratio of -9.03 and a beta of -0.31. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $3.11 and a fifty-two week high of $17.49.

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

Amylyx Pharmaceuticals Profile

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.