Short Interest in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Increases By 27.7%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 27.7% from the October 15th total of 1,010,000 shares. Currently, 3.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 1.0 days.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX traded down $0.37 during mid-day trading on Friday, reaching $4.65. The stock had a trading volume of 777,695 shares, compared to its average volume of 2,019,306. The company has a market capitalization of $318.76 million, a price-to-earnings ratio of -1.24 and a beta of -0.70. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95. The stock’s 50 day simple moving average is $4.07 and its two-hundred day simple moving average is $2.67.

Analysts Set New Price Targets

AMLX has been the subject of several analyst reports. Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Finally, HC Wainwright lifted their price target on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.14.

Insider Transactions at Amylyx Pharmaceuticals

In related news, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the transaction, the insider now directly owns 143,801 shares in the company, valued at approximately $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMLX. China Universal Asset Management Co. Ltd. raised its position in shares of Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 52,575.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock valued at $43,000 after buying an additional 15,247 shares during the period. Algert Global LLC bought a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at about $47,000. CWM LLC raised its stake in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after acquiring an additional 14,613 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Amylyx Pharmaceuticals by 113.6% in the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after acquiring an additional 29,697 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.