Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen Sells 21,490 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua B. Cohen sold 21,490 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the sale, the chief executive officer now directly owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. The trade was a 0.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Amylyx Pharmaceuticals Stock Up 13.2 %

Shares of AMLX stock opened at $3.78 on Thursday. The firm has a market cap of $334.92 million, a P/E ratio of -0.99 and a beta of -0.51. The business has a 50-day moving average price of $3.55 and a two-hundred day moving average price of $4.05. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. As a group, research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently made changes to their positions in AMLX. Boxer Capital Management LLC bought a new stake in Amylyx Pharmaceuticals in the fourth quarter worth $6,615,000. Bank of America Corp DE lifted its stake in shares of Amylyx Pharmaceuticals by 165.9% in the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock valued at $9,171,000 after acquiring an additional 1,513,748 shares during the last quarter. Walleye Capital LLC boosted its holdings in Amylyx Pharmaceuticals by 986.5% during the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after acquiring an additional 608,874 shares during the period. Cubist Systematic Strategies LLC grew its position in Amylyx Pharmaceuticals by 862.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company’s stock worth $1,786,000 after acquiring an additional 423,316 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Amylyx Pharmaceuticals by 122.4% in the 4th quarter. Jane Street Group LLC now owns 765,475 shares of the company’s stock worth $2,893,000 after purchasing an additional 421,302 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.33.

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.