Mackenzie Financial Corp Purchases 78,070 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Mackenzie Financial Corp increased its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 234.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,310 shares of the company’s stock after acquiring an additional 78,070 shares during the period. Mackenzie Financial Corp owned about 0.16% of Amylyx Pharmaceuticals worth $421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its position in Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after acquiring an additional 1,513,748 shares during the last quarter. Almitas Capital LLC grew its position in Amylyx Pharmaceuticals by 2.2% during the 4th quarter. Almitas Capital LLC now owns 2,032,370 shares of the company’s stock worth $7,682,000 after acquiring an additional 43,807 shares during the last quarter. Boxer Capital Management LLC bought a new stake in Amylyx Pharmaceuticals during the 4th quarter worth $6,615,000. Nantahala Capital Management LLC lifted its holdings in Amylyx Pharmaceuticals by 3.4% during the 4th quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company’s stock worth $5,489,000 after buying an additional 47,589 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Amylyx Pharmaceuticals by 43.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after buying an additional 382,608 shares during the period. Institutional investors own 95.84% of the company’s stock.

Insider Activity

In other 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 transaction, the chief executive officer now directly owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James M. Frates sold 10,896 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $37,809.12. Following the transaction, the chief financial officer now directly owns 290,988 shares in the company, valued at approximately $1,009,728.36. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,811 shares of company stock valued at $155,494 in the last ninety days. 11.70% of the stock is owned by company insiders.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $5.12 on Wednesday. The company has a market capitalization of $456.40 million, a price-to-earnings ratio of -1.34 and a beta of -0.60. The business’s 50-day moving average is $4.48 and its 200-day moving average is $4.14. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. Analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMLX shares. TD Cowen started coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a “buy” rating on the stock. Leerink Partners raised Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Leerink Partnrs raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Mizuho lifted their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Finally, HC Wainwright lifted their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $9.83.

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.