Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 20.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,619 shares of the company’s stock after selling 23,915 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.13% of Amylyx Pharmaceuticals worth $343,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMLX. FMR LLC lifted its position in Amylyx Pharmaceuticals by 292.0% in the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after purchasing an additional 164,622 shares during the last quarter. abrdn plc boosted its position 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 buying an additional 1,853,995 shares during the period. Alpha Wave Global LP bought a new position in Amylyx Pharmaceuticals in the 3rd quarter worth approximately $2,169,000. Almitas Capital LLC acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $3,617,000. Finally, AQR Capital Management LLC raised its stake in Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after acquiring an additional 3,224,454 shares in the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMLX. Baird R W raised 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 target on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright restated a “buy” rating and issued a $12.00 target price 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 lifted their price target for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Five research 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 stock. According to data from MarketBeat, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $7.33.

Insider Activity at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 7,471 shares of the firm’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 transaction, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.70% of the stock is currently owned by corporate insiders.

Amylyx Pharmaceuticals Stock Down 4.2 %

AMLX opened at $3.45 on Wednesday. The business has a fifty day simple moving average of $4.47 and a 200-day simple moving average of $3.54. The firm has a market cap of $236.50 million, a PE ratio of -0.90 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95.

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.