Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells $30,182.84 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of the business’s stock in a transaction 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 approximately $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $3.50 on Friday. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The stock’s fifty day moving average is $4.83 and its two-hundred day moving average is $3.45. The firm has a market capitalization of $239.92 million, a P/E ratio of -0.92 and a beta of -0.53.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its holdings in Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC grew its holdings in Amylyx Pharmaceuticals by 88.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock valued at $55,000 after buying an additional 13,509 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Amylyx Pharmaceuticals by 57.9% in the 2nd quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock worth $150,000 after acquiring an additional 27,954 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $156,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.