Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 6,510,000 shares, an increase of 8.3% from the March 31st total of 6,010,000 shares. Approximately 13.9% of the company’s stock are sold short. Based on an average daily trading volume, of 3,160,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMLX shares. Leerink Partnrs cut shares of Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Amylyx Pharmaceuticals in a research report on Monday, April 8th. The Goldman Sachs Group reissued a “neutral” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. Robert W. Baird downgraded shares of Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a report on Monday, March 11th. Finally, Mizuho lowered shares of Amylyx Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Monday, March 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.67.

Amylyx Pharmaceuticals Stock Up 6.6 %

Shares of NASDAQ AMLX opened at $1.93 on Thursday. The business has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $11.97. Amylyx Pharmaceuticals has a 52 week low of $1.70 and a 52 week high of $30.50. The company has a market cap of $131.25 million, a P/E ratio of 2.76 and a beta of -0.93.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Amylyx Pharmaceuticals had a net margin of 12.94% and a return on equity of 12.39%. The company had revenue of $108.45 million during the quarter, compared to analysts’ expectations of $106.40 million. During the same quarter in the previous year, the company earned ($0.65) earnings per share. Equities research analysts anticipate that Amylyx Pharmaceuticals will post -1.01 EPS for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 2,838 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $18.76, for a total value of $53,240.88. Following the completion of the sale, the insider now owns 46,245 shares in the company, valued at $867,556.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Gina Mazzariello sold 2,838 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $18.76, for a total transaction of $53,240.88. Following the sale, the insider now owns 46,245 shares of the company’s stock, valued at $867,556.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Frates sold 1,792 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total transaction of $33,564.16. Following the sale, the chief financial officer now directly owns 134,784 shares of the company’s stock, valued at approximately $2,524,504.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,305 shares of company stock valued at $193,098. 11.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMLX. Premier Path Wealth Partners LLC purchased a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth about $298,000. Graham Capital Management L.P. grew its stake in Amylyx Pharmaceuticals by 84.1% in the 3rd quarter. Graham Capital Management L.P. now owns 56,241 shares of the company’s stock worth $1,030,000 after buying an additional 25,689 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in Amylyx Pharmaceuticals in the third quarter worth $207,000. Qube Research & Technologies Ltd raised its position in Amylyx Pharmaceuticals by 31.0% during the third quarter. Qube Research & Technologies Ltd now owns 162,710 shares of the company’s stock valued at $2,979,000 after purchasing an additional 38,530 shares in the last quarter. Finally, abrdn plc bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $2,878,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

About Amylyx Pharmaceuticals

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.