Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 17.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 551,039 shares of the company’s stock after purchasing an additional 82,173 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Amylyx Pharmaceuticals worth $1,786,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after buying an additional 3,224,454 shares during the last quarter. abrdn plc grew its holdings in shares of Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after purchasing an additional 1,853,995 shares during the last quarter. Almitas Capital LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $3,617,000. Acadian Asset Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $2,300,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Amylyx Pharmaceuticals by 41.6% in the 3rd 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 during the period. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the transaction, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.70% of the stock is currently owned by corporate insiders.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $3.77 on Thursday. The stock has a market capitalization of $258.43 million, a PE ratio of -0.99 and a beta of -0.53. The company has a fifty day moving average of $4.90 and a 200-day moving average of $3.44. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $19.95.

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.