Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells 18,589 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, the chief executive officer now directly owns 3,120,569 shares in the company, valued at $9,985,820.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Amylyx Pharmaceuticals Stock Down 1.0 %

Shares of AMLX traded down $0.03 during mid-day trading on Wednesday, reaching $3.03. The company had a trading volume of 738,408 shares, compared to its average volume of 2,086,326. The stock has a market capitalization of $206.06 million, a P/E ratio of -2.83 and a beta of -0.62. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $19.95. The stock has a 50 day moving average of $2.37 and a two-hundred day moving average of $2.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. The business had revenue of ($1.02) million during the quarter, compared to analyst estimates of $18.83 million. During the same period in the previous year, the company posted $0.31 EPS. On average, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in AMLX. AQR Capital Management LLC lifted its holdings in Amylyx Pharmaceuticals by 2,768.0% during the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after purchasing an additional 3,224,454 shares in the last quarter. Almitas Capital LLC acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $3,617,000. Acadian Asset Management LLC purchased a new position in Amylyx Pharmaceuticals in the 2nd quarter valued at about $2,300,000. Farallon Capital Management LLC acquired a new stake in Amylyx Pharmaceuticals in the 1st quarter worth about $3,267,000. Finally, XTX Topco Ltd purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $400,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMLX. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Amylyx Pharmaceuticals in a research note on Wednesday, July 10th. The Goldman Sachs Group upped their target price on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.60.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.