Amylyx Pharmaceuticals (NASDAQ:AMLX) Posts Earnings Results, Hits Estimates

Amylyx Pharmaceuticals (NASDAQ:AMLX) announced its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30), FiscalAI reports.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $15.30 on Tuesday. Amylyx Pharmaceuticals has a 1 year low of $2.60 and a 1 year high of $17.49. The firm has a market cap of $1.68 billion, a PE ratio of -8.50 and a beta of -0.31. The company has a 50 day simple moving average of $13.78 and a two-hundred day simple moving average of $13.11.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America raised their target price on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Stifel Nicolaus assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $21.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Finally, HC Wainwright raised their price target on shares of Amylyx Pharmaceuticals from $20.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.89.

Insider Activity at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 3,326 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.11, for a total transaction of $36,951.86. Following the sale, the chief financial officer owned 177,104 shares in the company, valued at approximately $1,967,625.44. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Justin B. Klee sold 1,995 shares of Amylyx Pharmaceuticals stock in a transaction on Friday, January 16th. The stock was sold at an average price of $13.89, for a total transaction of $27,710.55. Following the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. This represents a 0.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 151,203 shares of company stock worth $2,028,385 over the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of AMLX. Meeder Asset Management Inc. bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at about $25,000. California State Teachers Retirement System purchased a new stake in Amylyx Pharmaceuticals in the second quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its position in Amylyx Pharmaceuticals by 1,116.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,454 shares of the company’s stock valued at $54,000 after acquiring an additional 4,088 shares during the last quarter. BNP Paribas Financial Markets grew its position in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after acquiring an additional 5,904 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $47,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

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.