Amylyx Pharmaceuticals, Inc. $AMLX Shares Sold by Boxer Capital Management LLC

Boxer Capital Management LLC lessened its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 26.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 900,000 shares of the company’s stock after selling 325,000 shares during the quarter. Amylyx Pharmaceuticals comprises approximately 3.9% of Boxer Capital Management LLC’s holdings, making the stock its 7th biggest holding. Boxer Capital Management LLC owned approximately 0.82% of Amylyx Pharmaceuticals worth $12,231,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in Amylyx Pharmaceuticals in the third quarter valued at $48,000. California State Teachers Retirement System acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $28,000. BNP Paribas Financial Markets lifted its stake in shares of Amylyx Pharmaceuticals by 433.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after purchasing an additional 5,904 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $45,000. Finally, Legal & General Group Plc acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Amylyx Pharmaceuticals news, Director Karen Firestone bought 8,100 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average cost of $12.45 per share, for a total transaction of $100,845.00. Following the completion of the purchase, the director directly owned 63,100 shares of the company’s stock, valued at approximately $785,595. The trade was a 14.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James M. Frates sold 3,326 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total value of $36,951.86. Following the sale, the chief financial officer directly owned 177,104 shares in the company, valued at approximately $1,967,625.44. The trade was a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 151,203 shares of company stock valued at $2,028,385. Corporate insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Bank of America raised their target price on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Finally, HC Wainwright increased their price target on Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Amylyx Pharmaceuticals Trading Down 2.7%

NASDAQ AMLX opened at $13.99 on Friday. The stock has a market cap of $1.55 billion, a P/E ratio of -9.03 and a beta of -0.31. The company’s fifty day simple moving average is $14.20 and its 200-day simple moving average is $13.46. Amylyx Pharmaceuticals, Inc. has a 52 week low of $3.11 and a 52 week high of $17.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. On average, research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal 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.