683 Capital Management LLC Cuts Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

683 Capital Management LLC trimmed its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,650,000 shares of the company’s stock after selling 110,000 shares during the quarter. Amylyx Pharmaceuticals accounts for approximately 0.9% of 683 Capital Management LLC’s holdings, making the stock its 17th biggest holding. 683 Capital Management LLC’s holdings in Amylyx Pharmaceuticals were worth $19,932,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Landscape Capital Management L.L.C. increased its holdings in Amylyx Pharmaceuticals by 17.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock valued at $148,000 after buying an additional 1,825 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Amylyx Pharmaceuticals by 54.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock valued at $64,000 after acquiring an additional 1,890 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. boosted its stake in Amylyx Pharmaceuticals by 14.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock valued at $216,000 after acquiring an additional 2,265 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Amylyx Pharmaceuticals by 13.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 26,988 shares of the company’s stock valued at $326,000 after acquiring an additional 3,198 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $15.25 on Thursday. The firm has a fifty day moving average price of $15.15 and a 200 day moving average price of $14.27. Amylyx Pharmaceuticals, Inc. has a 1 year low of $4.80 and a 1 year high of $18.60. The stock has a market cap of $1.70 billion, a PE ratio of -10.17 and a beta of -0.16.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, equities analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMLX shares. Guggenheim raised their target price on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. Bank of America lifted their price objective on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. Finally, Mizuho lifted their price objective on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Amylyx Pharmaceuticals 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.