Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Insider Sells $13,132.35 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) insider Gina Mazzariello sold 4,169 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $3.15, for a total value of $13,132.35. Following the transaction, the insider now directly owns 134,921 shares in the company, valued at $425,001.15. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gina Mazzariello also recently made the following trade(s):

• On Monday, February 3rd, Gina Mazzariello sold 3,678 shares of Amylyx Pharmaceuticals stock. The stock was sold at an average price of $3.49, for a total value of $12,836.22.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX opened at $3.28 on Friday. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $19.42. The stock has a market cap of $224.84 million, a P/E ratio of -0.86 and a beta of -0.54. The firm has a 50 day moving average price of $3.60 and a 200 day moving average price of $3.82.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. abrdn plc raised its stake in Amylyx Pharmaceuticals by 1,567.9% during the 3rd 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. China Universal Asset Management Co. Ltd. increased its holdings in shares of Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after acquiring an additional 5,104 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 worth $2,854,000 after acquiring an additional 258,818 shares in the last quarter. FMR LLC raised its position in shares of Amylyx Pharmaceuticals by 292.0% during the third quarter. FMR LLC now owns 221,001 shares of the company’s stock worth $716,000 after purchasing an additional 164,622 shares during the period. Finally, Alpha Wave Global LP bought a new position in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at about $2,169,000. 95.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMLX. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.33.

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.