Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) Insider Sells 15,000 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares of the company’s stock, valued at approximately $3,555,728.80. The trade was a 7.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock traded down $0.36 on Monday, reaching $17.41. The company’s stock had a trading volume of 1,466,151 shares, compared to its average volume of 1,320,710. The business’s fifty day moving average price is $15.32 and its 200 day moving average price is $14.78. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -11.61 and a beta of -0.20. Amylyx Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $19.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results 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). As a group, equities analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC bought a new position in Amylyx Pharmaceuticals during the third quarter worth about $45,606,000. Maven Securities LTD bought a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $951,000. Commodore Capital LP bought a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $55,386,000. Ally Bridge Group NY LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at approximately $5,944,000. Finally, Vanguard Group Inc. raised its position in shares of Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock valued at $70,123,000 after acquiring an additional 531,162 shares during the period. Institutional investors own 95.84% of the company’s stock.

Analysts Set New Price Targets

AMLX has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Mizuho increased their price target on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Guggenheim raised their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.25.

About Amylyx Pharmaceuticals

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.