James Frates Sells 3,326 Shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James Frates sold 3,326 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.11, for a total value of $36,951.86. Following the completion of the sale, the chief financial officer directly owned 177,104 shares in the company, valued at $1,967,625.44. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Amylyx Pharmaceuticals Trading Down 1.3%

Shares of NASDAQ:AMLX traded down $0.16 during midday trading on Thursday, hitting $11.83. 2,299,305 shares of the stock were exchanged, compared to its average volume of 1,837,325. Amylyx Pharmaceuticals, Inc. has a twelve month low of $2.60 and a twelve month high of $16.96. The company has a 50 day moving average price of $13.10 and a 200-day moving average price of $11.26. The stock has a market cap of $1.30 billion, a P/E ratio of -6.57 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.06. On average, equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at $45,000. BNP Paribas Financial Markets increased its holdings in shares of Amylyx Pharmaceuticals by 433.2% during the 2nd 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 purchased a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter worth $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter worth $48,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMLX. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Guggenheim boosted their price target on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Bank of America upped their price objective on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. HC Wainwright lifted their price objective on Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Robert W. Baird upped their target price on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two research 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 issued a Sell rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals currently 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.