Geode Capital Management LLC Increases Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Geode Capital Management LLC lifted its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 3.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 567,903 shares of the company’s stock after acquiring an additional 16,864 shares during the period. Geode Capital Management LLC’s holdings in Amylyx Pharmaceuticals were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMLX. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Amylyx Pharmaceuticals by 43.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after purchasing an additional 382,608 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $793,000. JPMorgan Chase & Co. increased its holdings in Amylyx Pharmaceuticals by 144.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock worth $455,000 after buying an additional 83,048 shares during the period. Kennondale Capital Management LLC purchased a new position in Amylyx Pharmaceuticals during the 4th quarter worth approximately $508,000. Finally, Barclays PLC lifted its stake in Amylyx Pharmaceuticals by 91.1% during the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after acquiring an additional 40,319 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $43,114.75. Following the sale, the insider now owns 194,375 shares of the company’s stock, valued at approximately $674,481.25. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James M. Frates sold 10,896 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $37,809.12. Following the completion of the sale, the chief financial officer now directly owns 290,988 shares of the company’s stock, valued at approximately $1,009,728.36. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,509 shares of company stock valued at $222,586. 11.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMLX. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th. Mizuho raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their price target for the company from $3.00 to $7.00 in a report on Monday, April 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $4.90 on Wednesday. The firm has a fifty day moving average price of $3.75 and a 200 day moving average price of $4.19. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $7.27. The stock has a market cap of $434.15 million, a P/E ratio of -1.28 and a beta of -0.53.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million for the quarter. Equities analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

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.