Amylyx Pharmaceuticals (NASDAQ:AMLX) Reaches New 12-Month High – What’s Next?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $19.26 and last traded at $18.95, with a volume of 121523 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

Several research firms have recently commented on AMLX. Mizuho increased their price objective on Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Guggenheim increased their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $24.62.

Amylyx Pharmaceuticals Trading Up 0.3%

The company has a market capitalization of $2.17 billion, a P/E ratio of -13.03 and a beta of -0.20. The company has a 50 day moving average price of $16.15 and a 200 day moving average price of $15.30.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, sell-side analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the transaction, the insider directly owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. lifted its position in Amylyx Pharmaceuticals by 17.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock worth $148,000 after acquiring an additional 1,825 shares during the last quarter. KBC Group NV acquired a new position in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 54.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock valued at $64,000 after purchasing an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $25,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Amylyx Pharmaceuticals by 14.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock worth $216,000 after purchasing an additional 2,265 shares during the period. Institutional investors and hedge funds 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.