Amylyx Pharmaceuticals (NASDAQ:AMLX) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Amylyx Pharmaceuticals (NASDAQ:AMLX) posted its quarterly earnings data on Tuesday. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.06), Zacks reports.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $3.00 on Tuesday. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $19.42. The firm’s 50 day simple moving average is $3.58 and its two-hundred day simple moving average is $3.85. The stock has a market capitalization of $205.64 million, a P/E ratio of -0.79 and a beta of -0.54.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMLX shares. 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. HC Wainwright restated 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 shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their price objective for the stock 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 7,471 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now directly owns 3,201,247 shares of the company’s stock, valued at approximately $11,108,327.09. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,169 shares of company stock worth $97,274 over the last ninety days. Insiders own 11.70% of the company’s stock.

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.