Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) CFO Sells $36,951.86 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 3,326 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the sale, the chief financial officer owned 177,104 shares in the company, valued at approximately $1,967,625.44. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Amylyx Pharmaceuticals Trading Up 3.2%

Shares of NASDAQ AMLX opened at $12.21 on Friday. The company has a fifty day moving average price of $13.02 and a 200 day moving average price of $11.34. The firm has a market cap of $1.34 billion, a PE ratio of -6.78 and a beta of -0.31. Amylyx Pharmaceuticals, Inc. has a 1-year low of $2.60 and a 1-year high of $16.96.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.06. Equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new position in Amylyx Pharmaceuticals during the second quarter worth about $45,000. BNP Paribas Financial Markets increased its position in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after buying an additional 5,904 shares during the last quarter. Legal & General Group Plc bought a new stake in Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Amylyx Pharmaceuticals in the third quarter valued at approximately $48,000. 95.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMLX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Guggenheim boosted their price objective on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Bank of America raised their target price on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Robert W. Baird lifted their price target on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Citigroup increased their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.