American Century Companies Inc. Reduces Stock Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

American Century Companies Inc. cut its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 95.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,041 shares of the company’s stock after selling 359,757 shares during the period. American Century Companies Inc.’s holdings in Amylyx Pharmaceuticals were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Amylyx Pharmaceuticals by 5.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock worth $226,000 after acquiring an additional 6,116 shares during the period. Swiss National Bank grew its stake in shares of Amylyx Pharmaceuticals by 8.7% during the 1st quarter. Swiss National Bank now owns 86,600 shares of the company’s stock valued at $246,000 after purchasing an additional 6,900 shares during the period. Seven Eight Capital LP increased its position in shares of Amylyx Pharmaceuticals by 11.5% during the 4th quarter. Seven Eight Capital LP now owns 66,801 shares of the company’s stock valued at $983,000 after purchasing an additional 6,910 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Amylyx Pharmaceuticals by 88.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after purchasing an additional 13,509 shares during the period. Finally, CWM LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after buying an additional 14,613 shares during the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMLX. The Goldman Sachs Group upped their target price on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Friday, July 12th. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.60.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $3.12 on Friday. The company has a market capitalization of $212.18 million, a P/E ratio of -2.92 and a beta of -0.55. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $19.95. The firm’s 50 day simple moving average is $2.42 and its two-hundred day simple moving average is $2.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its 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 net margin of 17.86% and a negative return on equity of 15.51%. The firm had revenue of ($1.02) million for the quarter, compared to analysts’ expectations of $18.83 million. During the same quarter last year, the firm posted $0.31 EPS. On average, sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.27 earnings per share for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In related news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director George M. Milne, Jr. acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 858,571 shares in the company, valued at approximately $1,888,856.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $36,614.40. Following the completion of the sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

Amylyx Pharmaceuticals Profile

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.