Amylyx Pharmaceuticals (NASDAQ:AMLX) Hits New 1-Year High – Should You Buy?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares reached a new 52-week high on Wednesday . The company traded as high as $17.20 and last traded at $16.67, with a volume of 704076 shares changing hands. The stock had previously closed at $16.55.

Wall Street Analyst Weigh In

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

Amylyx Pharmaceuticals Trading Down 2.9%

The business’s 50-day simple moving average is $13.34 and its two-hundred day simple moving average is $11.82. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -8.76 and a beta of -0.31.

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

Insider Buying and Selling

In related news, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $13.89, for a total value of $27,710.55. Following the completion of the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. The trade was a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James M. Frates sold 3,326 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total value of $36,951.86. Following the transaction, the chief financial officer directly owned 177,104 shares in the company, valued at $1,967,625.44. The trade was a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,783 shares of company stock worth $2,122,808 over the last 90 days. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Amylyx Pharmaceuticals by 76.4% in the fourth quarter. SG Americas Securities LLC now owns 20,846 shares of the company’s stock worth $252,000 after purchasing an additional 9,027 shares during the last quarter. Maven Securities LTD purchased a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at $951,000. TCG Crossover Management LLC raised its position 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 buying an additional 300,000 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Amylyx Pharmaceuticals during the 3rd quarter valued at $1,180,000. Finally, Verition Fund Management LLC purchased a new position in Amylyx Pharmaceuticals during the 3rd quarter worth $868,000. Institutional investors 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.