Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells 21,490 Shares of Stock

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

Amylyx Pharmaceuticals Trading Up 13.2 %

Shares of AMLX opened at $3.78 on Thursday. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $7.27. The firm has a market capitalization of $334.92 million, a price-to-earnings ratio of -0.99 and a beta of -0.51. The firm’s 50-day moving average price is $3.55 and its 200-day moving average price is $4.05.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. On average, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after buying an additional 4,883 shares in the last quarter. XTX Topco Ltd lifted its position in Amylyx Pharmaceuticals by 12.0% during the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company’s stock valued at $202,000 after acquiring an additional 5,704 shares during the period. Northern Trust Corp boosted its stake in Amylyx Pharmaceuticals by 11.8% during the fourth quarter. Northern Trust Corp now owns 106,564 shares of the company’s stock worth $403,000 after acquiring an additional 11,214 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter worth about $45,000. Finally, Alpine Global Management LLC purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter worth about $45,000. Institutional investors own 95.84% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $7.33.

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.