Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells $74,570.30 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen sold 21,490 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now directly owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. This represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Amylyx Pharmaceuticals Stock Down 2.3 %

NASDAQ:AMLX opened at $3.43 on Friday. The business’s 50-day simple moving average is $3.55 and its two-hundred day simple moving average is $4.05. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $7.27. The stock has a market cap of $303.90 million, a PE ratio of -0.90 and a beta of -0.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million during the quarter. Sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Three investment 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. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $7.33.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Boxer Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at about $6,615,000. Bank of America Corp DE lifted its position in shares of Amylyx Pharmaceuticals by 165.9% in the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after buying an additional 1,513,748 shares in the last quarter. 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 valued at $2,173,000 after buying an additional 608,874 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Amylyx Pharmaceuticals by 862.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company’s stock valued at $1,786,000 after buying an additional 423,316 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Amylyx Pharmaceuticals by 122.4% in the 4th quarter. Jane Street Group LLC now owns 765,475 shares of the company’s stock worth $2,893,000 after acquiring an additional 421,302 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.