Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Free Report) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, a growth of 27.7% from the October 15th total of 1,010,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 3.1% of the company’s stock are sold short.
Amylyx Pharmaceuticals Stock Performance
AMLX opened at $4.76 on Friday. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95. The firm has a market cap of $326.29 million, a price-to-earnings ratio of -1.25 and a beta of -0.70. The firm’s 50-day simple moving average is $4.12 and its 200-day simple moving average is $2.69.
Wall Street Analyst Weigh In
A number of analysts have weighed in on AMLX shares. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. HC Wainwright lifted their target price on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.14.
Insider Activity
In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. purchased 100,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now directly owns 858,571 shares in the company, valued at approximately $1,888,856.20. This represents a 13.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was 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 approximately $9,985,820.80. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.
Institutional Trading of Amylyx Pharmaceuticals
Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after acquiring an additional 3,224,454 shares in the last quarter. Almitas Capital LLC acquired a new position in Amylyx Pharmaceuticals in the second quarter worth $3,617,000. abrdn plc grew its holdings in shares of Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after purchasing an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth $2,300,000. Finally, Farallon Capital Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at $3,267,000. 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.
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