Kennondale Capital Management LLC Takes Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Kennondale Capital Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 134,445 shares of the company’s stock, valued at approximately $508,000. Kennondale Capital Management LLC owned about 0.20% of Amylyx Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMLX. Alpha Wave Global LP purchased a new stake in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at about $2,169,000. Walleye Capital LLC increased its holdings in Amylyx Pharmaceuticals by 986.5% in the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock worth $2,173,000 after acquiring an additional 608,874 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Amylyx Pharmaceuticals by 43.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after acquiring an additional 382,608 shares in the last quarter. FMR LLC increased its holdings in Amylyx Pharmaceuticals by 292.0% in the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock worth $716,000 after acquiring an additional 164,622 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Amylyx Pharmaceuticals by 144.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock worth $455,000 after acquiring an additional 83,048 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insider Activity

In related news, CEO Joshua B. Cohen sold 11,851 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Justin B. Klee sold 7,471 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the completion of the transaction, the chief executive officer now directly owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,169 shares of company stock worth $97,274. 11.70% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Price Performance

AMLX stock opened at $3.75 on Tuesday. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $7.27. The company has a market capitalization of $332.26 million, a price-to-earnings ratio of -0.98 and a beta of -0.51. The business has a 50 day simple moving average of $3.51 and a two-hundred day simple moving average of $3.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings results 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 business had revenue of ($0.67) million during the quarter. Sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMLX shares. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $11.00 in a report on Monday, November 18th. Finally, Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $7.33.

Amylyx Pharmaceuticals 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.