Amylyx Pharmaceuticals (NASDAQ:AMLX) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a hold rating to a sell rating in a report published on Saturday morning.

Several other analysts have also issued reports on the company. Bank of America upped their target price on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Citigroup upped their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group lifted their target price on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Guggenheim upped their price target on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, HC Wainwright lifted their price objective on Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX opened at $12.02 on Friday. Amylyx Pharmaceuticals has a 52-week low of $2.60 and a 52-week high of $16.96. The company has a fifty day moving average of $13.79 and a 200-day moving average of $10.65. The company has a market capitalization of $1.32 billion, a P/E ratio of -6.68 and a beta of -0.34.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.06. As a group, analysts forecast that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joshua B. Cohen sold 29,933 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.35, for a total transaction of $429,538.55. Following the transaction, the chief executive officer owned 3,325,347 shares in the company, valued at $47,718,729.45. The trade was a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Camille L. Bedrosian sold 6,580 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $14.35, for a total value of $94,423.00. Following the completion of the sale, the insider owned 175,756 shares in the company, valued at approximately $2,522,098.60. This represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,913 shares of company stock valued at $1,413,918 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at about $48,000. California State Teachers Retirement System bought a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $45,000. BNP Paribas Financial Markets raised its position in shares of Amylyx Pharmaceuticals by 433.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after acquiring an additional 5,904 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter worth approximately $47,000. 95.84% of the stock is currently owned by institutional investors.

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.