Charles Schwab Investment Management Inc. Reduces Stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Charles Schwab Investment Management Inc. lessened its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 42.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 302,270 shares of the company’s stock after selling 219,349 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.44% of Amylyx Pharmaceuticals worth $979,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after purchasing an additional 5,104 shares during the period. Algert Global LLC bought a new stake in Amylyx Pharmaceuticals during the second quarter valued at approximately $47,000. CWM LLC increased its holdings in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after buying an additional 14,613 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Amylyx Pharmaceuticals by 88.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after acquiring an additional 13,509 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Amylyx Pharmaceuticals by 113.6% during the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after acquiring an additional 29,697 shares during the last quarter. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Trading Up 2.4 %

AMLX stock opened at $4.28 on Wednesday. The stock has a market cap of $293.39 million, a PE ratio of -1.12 and a beta of -0.68. Amylyx Pharmaceuticals, Inc. has a 12 month low of $1.58 and a 12 month high of $19.95. The company has a 50-day moving average price of $5.06 and a 200 day moving average price of $3.20.

Insiders Place Their Bets

In other news, insider Camille L. Bedrosian sold 11,442 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 $36,614.40. Following the completion of the sale, the insider now directly owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justin B. Klee sold 18,589 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the transaction, the chief executive officer now directly owns 3,120,569 shares in the company, valued at $9,985,820.80. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMLX shares. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $3.00 to $11.00 in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.33.

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.