Amylyx Pharmaceuticals (NASDAQ:AMLX) Trading Up 6.9% – Here’s Why

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) were up 6.9% on Monday . The company traded as high as $16.20 and last traded at $15.9810. Approximately 1,459,803 shares traded hands during trading, an increase of 15% from the average daily volume of 1,272,312 shares. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMLX shares. Stifel Nicolaus started coverage on Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price target on the stock. Bank of America upped their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Guggenheim upped their price target on Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Wall Street Zen raised Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $20.11.

Amylyx Pharmaceuticals Trading Up 4.0%

The business has a fifty day simple moving average of $14.31 and a 200 day simple moving average of $13.86. The stock has a market capitalization of $1.87 billion, a P/E ratio of -10.92 and a beta of -0.22.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. As a group, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $13.89, for a total transaction 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 approximately $46,939,838.22. The trade was a 0.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joshua B. Cohen sold 1,974 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $13.83, for a total value of $27,300.42. Following the completion of the transaction, the chief executive officer directly owned 3,379,465 shares of the company’s stock, valued at approximately $46,738,000.95. This represents a 0.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,162 shares of company stock valued at $1,905,874 over the last three months. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth $25,000. California State Teachers Retirement System bought a new position in Amylyx Pharmaceuticals during the second quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its position in Amylyx Pharmaceuticals by 954.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock valued at $47,000 after buying an additional 3,493 shares during the period. BNP Paribas Financial Markets grew its position in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares during the period. Finally, Legal & General Group Plc bought a new position in Amylyx Pharmaceuticals during the second quarter valued at about $47,000. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.