Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Joshua Cohen Sells 7,715 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua Cohen sold 7,715 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $11.09, for a total value of $85,559.35. Following the completion of the transaction, the chief executive officer directly owned 3,317,586 shares of the company’s stock, valued at $36,792,028.74. The trade was a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX opened at $11.83 on Friday. The business’s fifty day moving average is $13.05 and its 200 day moving average is $11.26. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -6.57 and a beta of -0.31. Amylyx Pharmaceuticals, Inc. has a 52-week low of $2.60 and a 52-week high of $16.96.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.06. Equities analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Institutional Trading of Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Commodore Capital LP bought a new position in Amylyx Pharmaceuticals during the third quarter valued at approximately $55,386,000. First Light Asset Management LLC bought a new position in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at $45,606,000. Adage Capital Partners GP L.L.C. raised its position in Amylyx Pharmaceuticals by 54.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after purchasing an additional 3,102,395 shares during the period. Millennium Management LLC raised its position in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after purchasing an additional 2,487,617 shares during the period. Finally, Paradigm Biocapital Advisors LP bought a new stake in Amylyx Pharmaceuticals in the third quarter worth $25,821,000. Institutional investors own 95.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMLX. Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Citigroup upped their price target on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, 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. Two investment 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 given a Sell rating to the stock. Based on data from MarketBeat, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

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.