Kennondale Capital Management LLC Buys New Stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Kennondale Capital Management LLC acquired a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 134,445 shares of the company’s stock, valued at approximately $508,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Amylyx Pharmaceuticals by 43.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after buying an additional 382,608 shares during the period. Walleye Capital LLC boosted its stake in Amylyx Pharmaceuticals by 986.5% during the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock worth $2,173,000 after buying an additional 608,874 shares during the period. Alpha Wave Global LP purchased a new position in Amylyx Pharmaceuticals during the third quarter worth $2,169,000. Geode Capital Management LLC boosted its stake in Amylyx Pharmaceuticals by 17.5% during the third quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after buying an additional 82,173 shares during the period. Finally, FMR LLC boosted its stake in 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 buying an additional 164,622 shares during the period. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AMLX. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Three 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.33.

Amylyx Pharmaceuticals Trading Up 3.3 %

NASDAQ:AMLX opened at $3.75 on Tuesday. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $7.27. The company has a market cap of $332.26 million, a price-to-earnings ratio of -0.98 and a beta of -0.51. The stock has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $3.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million during the quarter. As a group, equities research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.04, for a total value 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. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joshua B. Cohen sold 11,851 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the completion of the sale, the chief executive officer now owns 3,201,247 shares of the company’s stock, valued at $11,108,327.09. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,169 shares of company stock worth $97,274 over the last three months. 11.70% of the stock is owned by corporate insiders.

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.