Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee Sells 7,471 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the sale, the chief executive officer now directly owns 3,176,788 shares in the company, valued at $12,834,223.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Amylyx Pharmaceuticals Stock Down 1.8 %

Shares of NASDAQ:AMLX opened at $3.77 on Thursday. The firm has a market cap of $258.43 million, a P/E ratio of -0.99 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $19.95. The business has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $3.44.

Analyst Upgrades and Downgrades

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

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after purchasing an additional 3,224,454 shares during the last quarter. Almitas Capital LLC acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at $3,617,000. abrdn plc boosted its position in Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after acquiring an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth about $2,300,000. Finally, Alpha Wave Global LP bought a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter worth about $2,169,000. 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.