Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Down 21.1% in October

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,010,000 shares, a decline of 21.1% from the September 30th total of 1,280,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is currently 0.8 days.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 18,589 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at $9,985,820.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the completion of the sale, the chief executive officer now owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now directly owns 143,801 shares in the company, valued at approximately $460,163.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its position in Amylyx Pharmaceuticals by 32.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 112,867 shares of the company’s stock valued at $321,000 after purchasing an additional 27,937 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at about $3,617,000. Acadian Asset Management LLC bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth approximately $2,300,000. AQR Capital Management LLC boosted its stake in Amylyx Pharmaceuticals by 2,768.0% in the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after buying an additional 3,224,454 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $400,000. 95.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Amylyx Pharmaceuticals in a report on Friday, October 18th. Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group upped their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.57.

Amylyx Pharmaceuticals Stock Up 8.4 %

Shares of NASDAQ AMLX opened at $5.31 on Monday. The firm has a market capitalization of $361.11 million, a P/E ratio of -4.96 and a beta of -0.55. The stock’s 50-day simple moving average is $3.05 and its two-hundred day simple moving average is $2.29. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. The company had revenue of ($1.02) million during the quarter, compared to analysts’ expectations of $18.83 million. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, research analysts anticipate that Amylyx Pharmaceuticals will post -2.27 EPS for the current fiscal year.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.