Hsbc Holdings PLC Lowers Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Hsbc Holdings PLC cut its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 81.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,566 shares of the company’s stock after selling 50,121 shares during the period. Hsbc Holdings PLC’s holdings in Amylyx Pharmaceuticals were worth $43,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Amylyx Pharmaceuticals by 144.4% during the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after purchasing an additional 83,048 shares in the last quarter. American Century Companies Inc. lifted its position in Amylyx Pharmaceuticals by 181.8% during the fourth quarter. American Century Companies Inc. now owns 59,310 shares of the company’s stock valued at $224,000 after purchasing an additional 38,261 shares in the last quarter. Barclays PLC lifted its position in shares of Amylyx Pharmaceuticals by 91.1% in the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after acquiring an additional 40,319 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at about $793,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at about $56,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Trading Down 0.2%

NASDAQ:AMLX opened at $4.60 on Tuesday. The company has a market capitalization of $409.79 million, a P/E ratio of -1.20 and a beta of -0.60. Amylyx Pharmaceuticals, Inc. has a 12 month low of $1.58 and a 12 month high of $7.27. The business’s 50-day moving average is $4.07 and its 200 day moving average is $4.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. On average, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Joshua B. Cohen sold 21,490 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $74,570.30. Following the sale, the chief executive officer now directly owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Camille L. Bedrosian sold 12,425 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $43,114.75. Following the completion of the sale, the insider now owns 194,375 shares in the company, valued at $674,481.25. This represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,980 shares of company stock worth $168,627. Corporate insiders own 11.70% of the company’s stock.

Analysts Set New Price Targets

AMLX has been the topic of several research analyst reports. Leerink Partners upgraded Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $4.00 to $10.00 in a research report on Wednesday, May 7th. Mizuho upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $3.00 to $7.00 in a research report on Monday, April 7th. HC Wainwright boosted their price objective on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Finally, Leerink Partnrs upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $9.67.

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.