James Frates Sells 10,810 Shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 10,810 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $32.36, for a total transaction of $349,811.60. Following the sale, the chief financial officer owned 233,625 shares in the company, valued at $7,560,105. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $33.15 on Wednesday. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -23.18 and a beta of -0.13. The firm’s fifty day moving average is $26.31 and its 200 day moving average is $19.13. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $10.83 and a fifty-two week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). On average, equities research analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $158,534,000. Jupiter Topco LLC purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth about $94,014,000. Janus Henderson Group PLC raised its position in Amylyx Pharmaceuticals by 11.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company’s stock worth $69,257,000 after purchasing an additional 520,201 shares during the period. Commodore Capital LP lifted its stake in Amylyx Pharmaceuticals by 38.6% in the fourth quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock worth $68,252,000 after purchasing an additional 1,574,522 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Amylyx Pharmaceuticals in the second quarter worth about $18,912,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Analyst Upgrades and Downgrades

AMLX has been the topic of a number of research analyst reports. Citigroup boosted their price target on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Robert W. Baird lifted their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Wolfe Research raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th. HC Wainwright raised their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $38.86.

About Amylyx Pharmaceuticals