JPMorgan Chase & Co. Purchases 83,048 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

JPMorgan Chase & Co. grew its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 144.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,559 shares of the company’s stock after buying an additional 83,048 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.21% of Amylyx Pharmaceuticals worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMLX. FMR LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 292.0% in the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock worth $716,000 after acquiring an additional 164,622 shares in the last quarter. abrdn plc boosted its stake in Amylyx Pharmaceuticals by 1,567.9% in 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 in the last quarter. Alpha Wave Global LP bought a new stake in shares of Amylyx Pharmaceuticals during the third quarter worth $2,169,000. AQR Capital Management LLC increased its stake in shares of Amylyx Pharmaceuticals by 2,768.0% in the second 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 buying an additional 258,818 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the sale, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Amylyx Pharmaceuticals Trading Down 1.1 %

Shares of AMLX opened at $3.45 on Wednesday. The stock has a market cap of $236.50 million, a P/E ratio of -0.90 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $19.95. The stock’s 50-day moving average price is $4.29 and its two-hundred day moving average price is $3.60.

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.