iA Global Asset Management Inc. Takes Position in Amylyx Pharmaceuticals, Inc. $AMLX

iA Global Asset Management Inc. purchased a new position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 304,786 shares of the company’s stock, valued at approximately $4,237,000.

A number of other large investors also recently bought and sold shares of the business. First Light Asset Management LLC bought a new stake in Amylyx Pharmaceuticals during the third quarter worth about $45,606,000. Maven Securities LTD bought a new position in shares of Amylyx Pharmaceuticals during the third quarter valued at approximately $951,000. Vanguard Group Inc. increased its stake in shares of Amylyx Pharmaceuticals by 17.2% during the third quarter. Vanguard Group Inc. now owns 5,273,750 shares of the company’s stock valued at $71,670,000 after purchasing an additional 775,722 shares in the last quarter. Commodore Capital LP purchased a new position in shares of Amylyx Pharmaceuticals during the third quarter valued at approximately $55,386,000. Finally, Ally Bridge Group NY LLC purchased a new position in shares of Amylyx Pharmaceuticals during the third quarter valued at approximately $5,944,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on AMLX shares. Mizuho boosted their price target on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $24.25.

Amylyx Pharmaceuticals Stock Down 0.1%

Shares of AMLX opened at $17.95 on Thursday. Amylyx Pharmaceuticals, Inc. has a twelve month low of $5.97 and a twelve month high of $19.15. The company has a market capitalization of $2.00 billion, a P/E ratio of -11.97 and a beta of -0.20. The firm has a 50 day moving average of $15.15 and a 200 day moving average of $14.50.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

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.