Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. 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. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.33.

AMLX has been the subject of several research analyst reports. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th.

Amylyx Pharmaceuticals Trading Down 1.6 %

Shares of AMLX opened at $3.13 on Wednesday. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The company has a market cap of $214.56 million, a PE ratio of -0.82 and a beta of -0.53. The stock has a 50-day moving average price of $4.72 and a 200-day moving average price of $3.49.

Insider Activity

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

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors have recently modified their holdings of AMLX. JPMorgan Chase & Co. increased its position in shares of Amylyx Pharmaceuticals by 144.4% during the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after buying an additional 83,048 shares during the period. Barclays PLC lifted its position in Amylyx Pharmaceuticals by 91.1% during the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after acquiring an additional 40,319 shares during the period. Geode Capital Management LLC increased its stake in shares of Amylyx Pharmaceuticals by 17.5% during the third quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock valued at $1,786,000 after purchasing an additional 82,173 shares in the last quarter. Walleye Capital LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 986.5% during the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after purchasing an additional 608,874 shares during the last quarter. Finally, Alpha Wave Global LP bought a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter worth approximately $2,169,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

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.