Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Up 27.7% in October

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 27.7% from the October 15th total of 1,010,000 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is presently 1.0 days. Approximately 3.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMLX shares. Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Finally, HC Wainwright raised their target price on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.14.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX opened at $4.76 on Friday. The firm has a market capitalization of $326.29 million, a price-to-earnings ratio of -1.25 and a beta of -0.70. The stock’s fifty day moving average is $4.12 and its 200-day moving average is $2.69. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $19.95.

Insider Transactions at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the transaction, the chief executive officer now owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now owns 143,801 shares in the company, valued at $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 52,575.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after buying an additional 15,247 shares during the period. Algert Global LLC purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter worth approximately $47,000. CWM LLC lifted its position in shares of Amylyx Pharmaceuticals by 104.2% in the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after acquiring an additional 14,613 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after purchasing an additional 29,697 shares during the period. Institutional investors 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.