First Light Asset Management LLC Makes New Investment in Amylyx Pharmaceuticals, Inc. $AMLX

First Light Asset Management LLC bought a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the third quarter, Holdings Channel.com reports. The fund bought 3,355,882 shares of the company’s stock, valued at approximately $45,606,000. Amylyx Pharmaceuticals accounts for approximately 4.3% of First Light Asset Management LLC’s portfolio, making the stock its 5th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System acquired a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $45,000. BNP Paribas Financial Markets increased its position in Amylyx Pharmaceuticals by 433.2% during the second 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 period. Legal & General Group Plc purchased a new stake in Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Amylyx Pharmaceuticals in the third quarter valued at approximately $48,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMLX. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Bank of America upped their price target on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price objective on the stock. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.56.

Insider Activity

In related news, CFO James M. Frates sold 3,326 shares of Amylyx Pharmaceuticals 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 transaction, 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 filing with the SEC, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 136,193 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $13.59, for a total transaction of $1,850,862.87. Following the completion of the transaction, the chief executive officer directly owned 3,378,621 shares in the company, valued at $45,915,459.39. This represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 151,203 shares of company stock valued at $2,028,385. Corporate insiders own 12.30% of the company’s stock.

Amylyx Pharmaceuticals Trading Down 2.7%

Amylyx Pharmaceuticals stock opened at $13.99 on Monday. The stock has a 50 day moving average of $14.20 and a two-hundred day moving average of $13.48. Amylyx Pharmaceuticals, Inc. has a twelve month low of $3.11 and a twelve month high of $17.49. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -9.03 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Tuesday, March 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Equities analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

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.