Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 1,940,000 shares, an increase of 23.6% from the December 31st total of 1,570,000 shares. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 1.6 days. Currently, 4.5% of the company’s shares are sold short.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 7,471 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the sale, the chief executive officer now directly owns 3,176,788 shares in the company, valued at approximately $12,834,223.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after acquiring an additional 3,224,454 shares during the period. abrdn plc increased its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after purchasing an additional 1,853,995 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Amylyx Pharmaceuticals by 41.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock worth $2,854,000 after purchasing an additional 258,818 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Amylyx Pharmaceuticals by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 811,488 shares of the company’s stock valued at $1,542,000 after buying an additional 106,888 shares in the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Amylyx Pharmaceuticals by 986.5% during the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after buying an additional 608,874 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AMLX. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Thursday, December 5th. Finally, Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $7.33.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX traded up $0.14 during mid-day trading on Friday, reaching $3.65. 1,391,760 shares of the company’s stock were exchanged, compared to its average volume of 873,081. The firm has a market capitalization of $250.21 million, a price-to-earnings ratio of -0.96 and a beta of -0.53. The firm has a 50-day moving average price of $4.15 and a two-hundred day moving average price of $3.62. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.