Amylyx Pharmaceuticals, Inc. $AMLX Holdings Lowered by First Light Asset Management LLC

First Light Asset Management LLC trimmed its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 4.9% during the 1st quarter, Holdings Channel reports. The fund owned 3,190,645 shares of the company’s stock after selling 164,894 shares during the quarter. Amylyx Pharmaceuticals makes up about 4.0% of First Light Asset Management LLC’s investment portfolio, making the stock its 7th largest position. First Light Asset Management LLC’s holdings in Amylyx Pharmaceuticals were worth $44,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after purchasing an additional 531,162 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Amylyx Pharmaceuticals during the 1st quarter valued at approximately $4,237,000. Sofinnova Investments Inc. purchased a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at approximately $6,367,000. Commodore Capital LP lifted its stake in shares of Amylyx Pharmaceuticals by 38.6% in the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock valued at $68,252,000 after purchasing an additional 1,574,522 shares during the period. Finally, Siren L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals in the 1st quarter valued at $17,097,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock opened at $18.41 on Monday. The stock has a market capitalization of $2.05 billion, a P/E ratio of -12.27 and a beta of -0.20. The company’s fifty day moving average price is $15.88 and its 200 day moving average price is $15.19. Amylyx Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $19.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). Sell-side analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Mizuho raised their price target on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. Guggenheim increased their target price on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.62.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is owned by corporate insiders.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.