Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Joshua Cohen Sells 29,933 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua Cohen sold 29,933 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.35, for a total transaction of $429,538.55. Following the sale, the chief executive officer owned 3,325,347 shares of the company’s stock, valued at $47,718,729.45. This represents a 0.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Amylyx Pharmaceuticals Price Performance

NASDAQ AMLX opened at $13.42 on Friday. The firm’s fifty day moving average price is $10.29 and its 200 day moving average price is $7.02. Amylyx Pharmaceuticals, Inc. has a 12 month low of $2.60 and a 12 month high of $15.15. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -5.37 and a beta of -0.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). As a group, sell-side analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on AMLX shares. Bank of America lifted their price target on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup initiated coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, June 17th. They set a “buy” rating and a $12.00 target price on the stock. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. The Goldman Sachs Group increased their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Jefferies Financial Group started coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell 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 $14.75.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMLX. Ameriprise Financial Inc. purchased a new stake in Amylyx Pharmaceuticals during the fourth quarter worth $191,000. Mackenzie Financial Corp raised its stake in shares of Amylyx Pharmaceuticals by 234.9% during the 4th quarter. Mackenzie Financial Corp now owns 111,310 shares of the company’s stock worth $421,000 after buying an additional 78,070 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $793,000. Premier Path Wealth Partners LLC acquired a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at about $72,000. Finally, Cannon Global Investment Management LLC purchased a new position in Amylyx Pharmaceuticals during the 1st quarter valued at about $90,000. 95.84% of the stock is owned by institutional investors and hedge funds.

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.