Mackenzie Financial Corp Lowers Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Mackenzie Financial Corp lessened its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,923 shares of the company’s stock after selling 14,649 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Amylyx Pharmaceuticals worth $110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMLX. Hennion & Walsh Asset Management Inc. boosted its stake in Amylyx Pharmaceuticals by 32.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 112,867 shares of the company’s stock worth $321,000 after buying an additional 27,937 shares during the last quarter. Virtu Financial LLC purchased a new position in Amylyx Pharmaceuticals during the fourth quarter worth approximately $408,000. Acadian Asset Management LLC purchased a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $2,300,000. XTX Topco Ltd acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $400,000. Finally, Vanguard Group Inc. grew its stake in shares of Amylyx Pharmaceuticals by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock valued at $15,189,000 after buying an additional 72,573 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Analysts Set New Price Targets

AMLX has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, July 10th. The Goldman Sachs Group boosted their target price on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.60.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $3.08 on Tuesday. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $19.95. The company has a market capitalization of $209.46 million, a price-to-earnings ratio of -2.88 and a beta of -0.55. The business has a 50-day moving average of $2.42 and a 200-day moving average of $2.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly 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). The company had revenue of ($1.02) million during the quarter, compared to analysts’ expectations of $18.83 million. Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. During the same quarter in the prior year, the company earned $0.31 EPS. Research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.27 EPS for the current fiscal year.

Insider Activity

In other news, Director George M. Milne, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now directly owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director George M. Milne, Jr. acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now directly owns 858,571 shares in the company, valued at approximately $1,888,856.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the insider now directly owns 143,801 shares in the company, valued at approximately $460,163.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.