Commodore Capital LP Purchases New Stake in Amylyx Pharmaceuticals, Inc. $AMLX

Commodore Capital LP acquired a new position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,075,478 shares of the company’s stock, valued at approximately $55,386,000. Amylyx Pharmaceuticals accounts for about 2.7% of Commodore Capital LP’s portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMLX. California State Teachers Retirement System bought a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter worth approximately $45,000. BNP Paribas Financial Markets lifted its stake in Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after purchasing an additional 5,904 shares during the last quarter. Legal & General Group Plc purchased a new position in Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Amylyx Pharmaceuticals during the third quarter valued at $48,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 1,974 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $13.83, for a total transaction of $27,300.42. Following the completion of the sale, the chief executive officer directly owned 3,379,465 shares in the company, valued at $46,738,000.95. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James M. Frates sold 3,326 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the completion of the transaction, the chief financial officer directly owned 177,104 shares of the company’s stock, valued at approximately $1,967,625.44. This represents a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 151,203 shares of company stock worth $2,028,385. 12.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMLX. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Bank of America lifted their price objective on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, February 20th. HC Wainwright upped their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.56.

Amylyx Pharmaceuticals Trading Down 2.7%

AMLX stock opened at $13.99 on Friday. The firm has a 50 day moving average of $14.20 and a 200-day moving average of $13.46. The firm has a market capitalization of $1.55 billion, a P/E ratio of -9.03 and a beta of -0.31. Amylyx Pharmaceuticals, Inc. has a 12 month low of $3.11 and a 12 month high of $17.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Sell-side analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

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.