iA Global Asset Management Inc. Buys New Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

iA Global Asset Management Inc. purchased a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 304,786 shares of the company’s stock, valued at approximately $4,237,000. iA Global Asset Management Inc. owned about 0.28% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. First Light Asset Management LLC bought a new stake in Amylyx Pharmaceuticals during the 3rd quarter valued at $45,606,000. Maven Securities LTD bought a new stake in Amylyx Pharmaceuticals in the 3rd quarter worth $951,000. Vanguard Group Inc. grew its holdings in Amylyx Pharmaceuticals by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,273,750 shares of the company’s stock worth $71,670,000 after acquiring an additional 775,722 shares during the last quarter. Commodore Capital LP bought a new stake in Amylyx Pharmaceuticals in the 3rd quarter worth $55,386,000. Finally, Ally Bridge Group NY LLC purchased a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at about $5,944,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Trading Down 0.1%

Shares of AMLX opened at $17.95 on Thursday. Amylyx Pharmaceuticals, Inc. has a 1-year low of $5.97 and a 1-year high of $19.15. The firm’s 50-day moving average price is $15.15 and its 200-day moving average price is $14.50. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -11.97 and a beta of -0.20.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). On average, research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMLX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Friday, May 8th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Mizuho upped their price target on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Guggenheim increased their price objective on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $24.25.

Amylyx Pharmaceuticals Company Profile

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.