Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Joshua Cohen Sells 1,974 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua Cohen sold 1,974 shares of Amylyx Pharmaceuticals stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.83, for a total value of $27,300.42. Following the transaction, the chief executive officer owned 3,379,465 shares of the company’s stock, valued at $46,738,000.95. The trade was a 0.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Amylyx Pharmaceuticals Stock Up 15.7%

Shares of AMLX traded up $2.25 during mid-day trading on Tuesday, reaching $16.55. The company had a trading volume of 4,418,477 shares, compared to its average volume of 1,376,666. Amylyx Pharmaceuticals, Inc. has a 52-week low of $2.60 and a 52-week high of $16.96. The stock has a market capitalization of $1.82 billion, a P/E ratio of -9.19 and a beta of -0.31. The stock has a 50 day moving average of $13.17 and a two-hundred day moving average of $11.75.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.06. On average, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMLX has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Bank of America boosted their price target on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Lifesci Capital upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.25.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its position in shares of Amylyx Pharmaceuticals by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock valued at $56,408,000 after buying an additional 3,102,395 shares during the last quarter. Perceptive Advisors LLC raised its holdings in Amylyx Pharmaceuticals by 0.4% in the 2nd quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock valued at $50,654,000 after acquiring an additional 28,017 shares during the last quarter. TCG Crossover Management LLC raised its holdings in Amylyx Pharmaceuticals by 5.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock valued at $84,853,000 after acquiring an additional 300,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Amylyx Pharmaceuticals by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,273,750 shares of the company’s stock worth $71,670,000 after purchasing an additional 775,722 shares in the last quarter. Finally, Commodore Capital LP purchased a new position in Amylyx Pharmaceuticals in the 3rd quarter worth approximately $55,386,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.