Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells $41,122.97 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total transaction of $41,122.97. Following the completion of the sale, the chief executive officer now owns 3,201,247 shares of the company’s stock, valued at approximately $11,108,327.09. This represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $3.80 on Friday. The stock has a fifty day moving average of $3.99 and a 200-day moving average of $3.66. The company has a market capitalization of $260.49 million, a P/E ratio of -0.99 and a beta of -0.54. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95.

Analyst Upgrades and Downgrades

AMLX has been the subject of several recent analyst reports. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the company from $3.00 to $11.00 in a report on Monday, November 18th. Finally, Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $7.33.

Institutional Trading of Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after purchasing an additional 4,883 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after buying an additional 5,104 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Amylyx Pharmaceuticals during the 4th quarter worth $56,000. Algert Global LLC acquired a new position in Amylyx Pharmaceuticals in the 2nd quarter valued at $47,000. Finally, Barclays PLC lifted its position in shares of Amylyx Pharmaceuticals by 91.1% during the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after acquiring an additional 40,319 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.