Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) Director Sells 30,000 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Director George Milne, Jr. sold 30,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $27.70, for a total transaction of $831,000.00. Following the completion of the transaction, the director directly owned 782,881 shares in the company, valued at $21,685,803.70. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock traded down $0.61 during midday trading on Wednesday, hitting $27.43. 2,056,628 shares of the company were exchanged, compared to its average volume of 1,658,016. The firm has a market capitalization of $3.06 billion, a P/E ratio of -19.18 and a beta of -0.10. The firm’s 50 day moving average price is $29.98 and its two-hundred day moving average price is $20.80. Amylyx Pharmaceuticals, Inc. has a 52 week low of $10.83 and a 52 week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $158,534,000. Jupiter Topco LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $94,014,000. Janus Henderson Group PLC boosted its position in shares of Amylyx Pharmaceuticals by 11.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company’s stock worth $69,257,000 after acquiring an additional 520,201 shares in the last quarter. Commodore Capital LP increased its stake in Amylyx Pharmaceuticals by 38.6% in the fourth quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock valued at $68,252,000 after acquiring an additional 1,574,522 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $18,912,000. Institutional investors own 95.84% of the company’s stock.

Analysts Set New Price Targets

AMLX has been the subject of several research reports. Robert W. Baird lifted their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Wolfe Research raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 17th. HC Wainwright increased their price objective on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Guggenheim lifted their target price on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of “Buy” and an average price target of $38.86.

About Amylyx Pharmaceuticals