Stock Traders Purchase High Volume of Call Options on Amylyx Pharmaceuticals (NASDAQ:AMLX)

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLXGet Free Report) was the recipient of some unusual options trading on Friday. Stock traders bought 18,944 call options on the stock. This represents an increase of approximately 1,092% compared to the average daily volume of 1,589 call options.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock opened at $16.14 on Friday. The stock has a market capitalization of $1.09 billion, a P/E ratio of -807.00, a P/E/G ratio of 0.15 and a beta of -0.77. Amylyx Pharmaceuticals has a 52-week low of $11.82 and a 52-week high of $38.32. The stock’s 50-day simple moving average is $15.14 and its 200 day simple moving average is $17.22.

Amylyx Pharmaceuticals (NASDAQ:AMLXGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.12). The business had revenue of $102.69 million during the quarter, compared to the consensus estimate of $113.95 million. Amylyx Pharmaceuticals had a net margin of 0.62% and a return on equity of 0.49%. Equities research analysts forecast that Amylyx Pharmaceuticals will post 0.87 EPS for the current fiscal year.

Insider Activity

In related news, CEO Justin B. Klee sold 5,841 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $16.33, for a total value of $95,383.53. Following the transaction, the chief executive officer now directly owns 2,836,776 shares in the company, valued at approximately $46,324,552.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 5,841 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $16.33, for a total transaction of $95,383.53. Following the transaction, the chief executive officer now owns 2,836,776 shares in the company, valued at $46,324,552.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James M. Frates sold 2,716 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $16.33, for a total transaction of $44,352.28. Following the completion of the transaction, the chief financial officer now directly owns 112,035 shares in the company, valued at $1,829,531.55. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock worth $185,656 over the last quarter. 11.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its holdings in Amylyx Pharmaceuticals by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 36,242 shares of the company’s stock worth $1,020,000 after purchasing an additional 342 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Amylyx Pharmaceuticals by 36.2% in the third quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock worth $38,000 after buying an additional 365 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Amylyx Pharmaceuticals by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 20,831 shares of the company’s stock worth $449,000 after buying an additional 612 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Amylyx Pharmaceuticals by 19.0% in the first quarter. Advisors Asset Management Inc. now owns 4,645 shares of the company’s stock valued at $136,000 after acquiring an additional 740 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Amylyx Pharmaceuticals by 79.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,719 shares of the company’s stock valued at $64,000 after acquiring an additional 762 shares in the last quarter. 87.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMLX. HC Wainwright decreased their price objective on Amylyx Pharmaceuticals from $50.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 10th. Mizuho cut their price target on shares of Amylyx Pharmaceuticals from $46.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, December 21st. Robert W. Baird initiated coverage on Amylyx Pharmaceuticals in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $37.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Amylyx Pharmaceuticals from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $36.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $38.33.

View Our Latest Research Report on Amylyx Pharmaceuticals

Amylyx Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

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