Wellington Management Group LLP Cuts Stake in Amylyx Pharmaceuticals, Inc. $AMLX

Wellington Management Group LLP cut its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,842 shares of the company’s stock after selling 28,710 shares during the quarter. Wellington Management Group LLP owned approximately 0.19% of Amylyx Pharmaceuticals worth $3,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter worth approximately $25,000. KBC Group NV purchased a new position in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $26,000. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $28,000. State of Wyoming acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after acquiring an additional 3,493 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock opened at $32.40 on Thursday. Amylyx Pharmaceuticals, Inc. has a one year low of $10.83 and a one year high of $41.14. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -22.66 and a beta of -0.13. The business’s 50 day moving average price is $25.15 and its 200 day moving average price is $18.62.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). On average, analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

AMLX has been the subject of several recent research reports. Mizuho increased their price objective on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Citigroup lifted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. HC Wainwright increased their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Robert W. Baird raised their price target on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $36.50.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the sale, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by company insiders.

Amylyx Pharmaceuticals Company Profile