The Manufacturers Life Insurance Company Purchases New Shares in Amylyx Pharmaceuticals, Inc. $AMLX

The Manufacturers Life Insurance Company purchased a new position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,828 shares of the company’s stock, valued at approximately $679,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. lifted its position in Amylyx Pharmaceuticals by 17.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock valued at $148,000 after buying an additional 1,825 shares during the period. KBC Group NV bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth about $25,000. State of Wyoming purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Amylyx Pharmaceuticals by 954.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after acquiring an additional 3,493 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $34.10 on Monday. The firm has a market cap of $3.80 billion, a PE ratio of -23.85 and a beta of -0.13. The stock has a 50-day moving average price of $24.23 and a 200-day moving average price of $18.21. Amylyx Pharmaceuticals, Inc. has a 1 year low of $9.75 and a 1 year high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Insider Activity

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the sale, the insider owned 194,090 shares in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMLX. Mizuho lifted their price target on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Robert W. Baird raised their target price on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Guggenheim lifted their target price on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Citigroup boosted their price target on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, HC Wainwright upped their price target on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $36.50.

Amylyx Pharmaceuticals Profile