Swiss National Bank Lowers Position in Amylyx Pharmaceuticals, Inc. $AMLX

Swiss National Bank cut its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 19.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 130,300 shares of the company’s stock after selling 31,400 shares during the period. Swiss National Bank’s holdings in Amylyx Pharmaceuticals were worth $1,811,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Landscape Capital Management L.L.C. raised its holdings in shares of Amylyx Pharmaceuticals by 17.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock valued at $148,000 after purchasing an additional 1,825 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Amylyx Pharmaceuticals by 54.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after purchasing an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Amylyx Pharmaceuticals in the 4th quarter worth about $25,000. China Universal Asset Management Co. Ltd. grew its position in Amylyx Pharmaceuticals by 14.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock worth $216,000 after purchasing an additional 2,265 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Amylyx Pharmaceuticals by 13.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 26,988 shares of the company’s stock valued at $326,000 after buying an additional 3,198 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AMLX. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Mizuho upped their target price on Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Finally, Guggenheim upped their price objective on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.62.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $20.75 on Friday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -13.83 and a beta of -0.20. Amylyx Pharmaceuticals, Inc. has a 52 week low of $7.48 and a 52 week high of $20.94. The firm’s 50-day simple moving average is $16.41 and its two-hundred day simple moving average is $15.41.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). Analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total value of $274,800.00. Following the transaction, the insider owned 194,090 shares in the company, valued at approximately $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company’s stock.

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.