Short Interest in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Drops By 50.8%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,860,000 shares, a decline of 50.8% from the July 15th total of 3,780,000 shares. Approximately 4.1% of the company’s shares are short sold. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is currently 1.1 days.

Amylyx Pharmaceuticals Stock Up 1.8 %

AMLX traded up $0.04 during trading on Wednesday, reaching $2.03. 223,606 shares of the stock traded hands, compared to its average volume of 2,282,625. The stock has a market capitalization of $137.71 million, a PE ratio of -1.86 and a beta of -0.63. The stock’s 50-day moving average is $1.88 and its 200 day moving average is $5.10. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $22.36.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative net margin of 17.86% and a positive return on equity of 4.14%. The firm had revenue of ($1.02) million for the quarter, compared to the consensus estimate of $18.83 million. During the same period last year, the company posted $0.31 EPS. As a group, equities research analysts anticipate that Amylyx Pharmaceuticals will post -1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMLX shares. The Goldman Sachs Group boosted their price objective on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Mizuho reduced their price objective on shares of Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.60.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its holdings in shares of Amylyx Pharmaceuticals by 11.9% during the fourth quarter. New York State Common Retirement Fund now owns 23,754 shares of the company’s stock valued at $350,000 after purchasing an additional 2,519 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Amylyx Pharmaceuticals by 69.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company’s stock valued at $153,000 after purchasing an additional 4,255 shares during the period. Quest Partners LLC acquired a new position in shares of Amylyx Pharmaceuticals during the fourth quarter valued at about $89,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Amylyx Pharmaceuticals by 5.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock valued at $226,000 after purchasing an additional 6,116 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Amylyx Pharmaceuticals by 8.7% during the first quarter. Swiss National Bank now owns 86,600 shares of the company’s stock valued at $246,000 after purchasing an additional 6,900 shares during the period. Institutional investors and hedge funds own 95.84% 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.