The Manufacturers Life Insurance Company Makes New $679,000 Investment in Amylyx Pharmaceuticals, Inc. $AMLX

The Manufacturers Life Insurance Company purchased a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,828 shares of the company’s stock, valued at approximately $679,000.

Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC raised its position in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after purchasing an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Amylyx Pharmaceuticals by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after buying an additional 143,065 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Amylyx Pharmaceuticals by 62.7% in the second quarter. JPMorgan Chase & Co. now owns 87,989 shares of the company’s stock worth $564,000 after buying an additional 33,920 shares during the period. Legal & General Group Plc bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $47,000. Finally, Rhumbline Advisers purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at about $645,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the transaction, the insider owned 194,090 shares in the company, valued at $3,555,728.80. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $34.10 on Monday. The stock has a market capitalization of $3.80 billion, a PE ratio of -23.85 and a beta of -0.13. The stock’s 50 day moving average price is $24.23 and its 200-day moving average price is $18.21. Amylyx Pharmaceuticals, Inc. has a 52-week low of $9.75 and a 52-week high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 17th. HC Wainwright lifted their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Guggenheim raised their price target on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, Mizuho raised their price target on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.50.

About Amylyx Pharmaceuticals