Amylyx Pharmaceuticals (NASDAQ:AMLX) Trading Down 4.5% – Here’s Why

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) traded down 4.5% on Thursday . The stock traded as low as $16.25 and last traded at $16.1650. 1,109,476 shares changed hands during trading, a decline of 46% from the average session volume of 2,037,642 shares. The stock had previously closed at $16.92.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMLX. Lifesci Capital upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, October 27th. HC Wainwright upped their price objective on Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Finally, Bank of America raised their price target on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Amylyx Pharmaceuticals Trading Down 2.9%

The business’s 50-day simple moving average is $13.40 and its two-hundred day simple moving average is $11.88. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -8.76 and a beta of -0.31.

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

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director Karen Firestone bought 8,100 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were bought at an average price of $12.45 per share, for a total transaction of $100,845.00. Following the transaction, the director directly owned 63,100 shares in the company, valued at approximately $785,595. This trade represents a 14.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Camille L. Bedrosian sold 6,580 shares of the firm’s 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 sale, the insider directly owned 175,756 shares of the company’s stock, valued at $2,522,098.60. This represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 157,783 shares of company stock valued at $2,122,808. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter worth $48,000. California State Teachers Retirement System purchased a new position in Amylyx Pharmaceuticals during the second quarter worth about $28,000. BNP Paribas Financial Markets grew its position in 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 purchasing an additional 5,904 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth about $45,000. Finally, Legal & General Group Plc purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at about $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.