Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Sells $27,710.55 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin Klee sold 1,995 shares of the firm’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 transaction, the chief executive officer directly owned 3,379,398 shares in the company, valued at approximately $46,939,838.22. The trade was a 0.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock opened at $16.23 on Friday. The company has a market capitalization of $1.78 billion, a P/E ratio of -9.02 and a beta of -0.31. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $17.49. The stock has a 50-day simple moving average of $13.34 and a 200-day simple moving average of $11.82.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.06. As a group, analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMLX shares. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Bank of America upped their target price on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Robert W. Baird increased their target price on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Finally, HC Wainwright boosted their price target on Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after acquiring an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Amylyx Pharmaceuticals by 7.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $1,541,000. Los Angeles Capital Management LLC purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $149,000. Finally, Acadian Asset Management LLC raised its stake in shares of Amylyx Pharmaceuticals by 135.1% during the 2nd quarter. Acadian Asset Management LLC now owns 569,083 shares of the company’s stock worth $3,645,000 after buying an additional 326,976 shares in the last quarter. 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.