Justin B. Klee Sells 7,471 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the completion of the transaction, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at $12,834,223.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Amylyx Pharmaceuticals Stock Down 1.8 %

Amylyx Pharmaceuticals stock traded down $0.07 during midday trading on Wednesday, hitting $3.77. 289,219 shares of the stock were exchanged, compared to its average volume of 429,004. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $19.95. The stock has a market capitalization of $258.43 million, a PE ratio of -0.99 and a beta of -0.53. The company has a fifty day simple moving average of $4.93 and a two-hundred day simple moving average of $3.43.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Amylyx Pharmaceuticals

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC grew 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 valued at $6,348,000 after acquiring an additional 3,224,454 shares during the period. Almitas Capital LLC bought a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth $3,617,000. abrdn plc raised 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 acquiring an additional 1,853,995 shares during the period. Acadian Asset Management LLC acquired a new position in Amylyx Pharmaceuticals in the 2nd quarter worth $2,300,000. Finally, Alpha Wave Global LP bought a new position in Amylyx Pharmaceuticals during the 3rd quarter worth about $2,169,000. Institutional investors own 95.84% of the company’s stock.

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.