Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Sees Large Increase in Short Interest

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,940,000 shares, a growth of 23.6% from the December 31st total of 1,570,000 shares. Approximately 4.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMLX shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.33.

Amylyx Pharmaceuticals Trading Down 0.9 %

AMLX traded down $0.03 during trading hours on Thursday, hitting $3.43. The company’s stock had a trading volume of 17,140 shares, compared to its average volume of 919,546. The stock has a market cap of $235.13 million, a price-to-earnings ratio of -0.90 and a beta of -0.53. The business’s 50-day moving average price is $4.21 and its 200-day moving average price is $3.61. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95.

Insider Transactions at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the sale, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in 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 purchasing an additional 4,883 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares during the last quarter. Algert Global LLC bought a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $47,000. Hsbc Holdings PLC raised its holdings in shares of Amylyx Pharmaceuticals by 57.9% in the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after acquiring an additional 27,954 shares in the last quarter. Finally, Barclays PLC grew its holdings in Amylyx Pharmaceuticals by 91.1% during the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after acquiring an additional 40,319 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

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.