Amylyx Pharmaceuticals (NASDAQ:AMLX) CFO Sells $349,811.60 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 10,810 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $32.36, for a total value of $349,811.60. Following the completion of the transaction, the chief financial officer directly owned 233,625 shares in the company, valued at $7,560,105. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amylyx Pharmaceuticals Trading Down 1.6%

Shares of NASDAQ:AMLX opened at $32.63 on Thursday. The stock has a 50 day moving average of $26.60 and a 200 day moving average of $19.26. The company has a market cap of $3.64 billion, a PE ratio of -22.82 and a beta of -0.13. Amylyx Pharmaceuticals, Inc. has a 12-month low of $10.83 and a 12-month high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Equities research analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMLX has been the subject of several recent analyst reports. HC Wainwright upped their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Mizuho raised their price target on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Wolfe Research upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 17th. Citigroup increased their target price 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $38.86.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at about $158,534,000. Jupiter Topco LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth about $94,014,000. Janus Henderson Group PLC lifted its position in shares of Amylyx Pharmaceuticals by 11.6% in the first quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company’s stock worth $69,257,000 after buying an additional 520,201 shares in the last quarter. Commodore Capital LP boosted its stake in Amylyx Pharmaceuticals by 38.6% during the fourth quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock valued at $68,252,000 after buying an additional 1,574,522 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $18,912,000. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Company Profile