Fmr LLC Increases Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Fmr LLC grew its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 292.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 221,001 shares of the company’s stock after acquiring an additional 164,622 shares during the quarter. Fmr LLC owned about 0.32% of Amylyx Pharmaceuticals worth $716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Amylyx Pharmaceuticals by 41.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock valued at $2,854,000 after purchasing an additional 258,818 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position 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 worth $42,000 after buying an additional 5,104 shares during the last quarter. abrdn plc boosted its holdings in shares of Amylyx Pharmaceuticals by 1,567.9% in the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after buying an additional 1,853,995 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $156,000. Finally, Maven Securities LTD raised its stake in Amylyx Pharmaceuticals by 300.0% during the 2nd quarter. Maven Securities LTD now owns 100,000 shares of the company’s stock worth $190,000 after acquiring an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $4.28 on Wednesday. The firm has a market cap of $293.39 million, a price-to-earnings ratio of -1.12 and a beta of -0.68. The firm’s fifty day moving average price is $5.06 and its 200 day moving average price is $3.20. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $19.95.

Wall Street Analyst Weigh In

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

Insider Transactions at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the transaction, the chief executive officer now owns 3,120,569 shares of the company’s stock, valued at $9,985,820.80. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were 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 of the company’s stock, valued at approximately $460,163.20. This trade represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

Amylyx Pharmaceuticals Company 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.