Amylyx Pharmaceuticals (NASDAQ:AMLX) Trading Up 6.5% – What’s Next?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares were up 6.5% during trading on Wednesday . The company traded as high as $13.41 and last traded at $13.4240. Approximately 215,435 shares changed hands during trading, a decline of 86% from the average daily volume of 1,523,653 shares. The stock had previously closed at $12.60.

Wall Street Analyst Weigh In

AMLX has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Lifesci Capital raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. The Goldman Sachs Group lifted their price objective on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Finally, Robert W. Baird upped their target price on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Amylyx Pharmaceuticals Stock Up 8.1%

The firm’s 50 day simple moving average is $12.97 and its 200-day simple moving average is $11.47. The company has a market capitalization of $1.50 billion, a PE ratio of -7.56 and a beta of -0.31.

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

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 3,326 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.11, for a total value of $36,951.86. Following the transaction, the chief financial officer owned 177,104 shares in the company, valued at $1,967,625.44. The trade was a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Camille L. Bedrosian sold 6,580 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.35, for a total transaction of $94,423.00. Following the completion of the transaction, the insider directly owned 175,756 shares of the company’s stock, valued at approximately $2,522,098.60. The trade was a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,621 shares of company stock valued at $216,934. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMLX. Aster Capital Management DIFC Ltd acquired a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at approximately $48,000. California State Teachers Retirement System acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter worth about $45,000. BNP Paribas Financial Markets raised its stake 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 valued at $47,000 after purchasing an additional 5,904 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Amylyx Pharmaceuticals during the second quarter worth about $47,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.