Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Insider Sells $12,836.22 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Gina Mazzariello sold 3,678 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.49, for a total value of $12,836.22. Following the sale, the insider now owns 139,090 shares of the company’s stock, valued at $485,424.10. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Amylyx Pharmaceuticals Stock Up 1.3 %

Shares of AMLX stock opened at $3.80 on Friday. The firm has a market cap of $260.49 million, a P/E ratio of -0.99 and a beta of -0.54. The company has a 50 day moving average of $3.99 and a 200-day moving average of $3.66. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $19.95.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Finally, Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.33.

Institutional Trading of Amylyx Pharmaceuticals

A number of large investors have recently bought and sold shares of AMLX. abrdn plc lifted its position in shares of Amylyx Pharmaceuticals by 1,567.9% during the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after buying an additional 1,853,995 shares during the last quarter. Alpha Wave Global LP purchased a new stake in Amylyx Pharmaceuticals during the third quarter valued at about $2,169,000. Walleye Capital LLC boosted its position in Amylyx Pharmaceuticals by 986.5% during the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock worth $2,173,000 after purchasing an additional 608,874 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Amylyx Pharmaceuticals by 41.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock worth $2,854,000 after purchasing an additional 258,818 shares in the last quarter. Finally, FMR LLC raised its position in shares of Amylyx Pharmaceuticals by 292.0% in the third quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after purchasing an additional 164,622 shares during the period. 95.84% of the stock is 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.