Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO Sells $37,809.12 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates sold 10,896 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $37,809.12. Following the completion of the transaction, the chief financial officer now owns 290,988 shares in the company, valued at $1,009,728.36. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Amylyx Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ AMLX opened at $3.43 on Friday. The business’s 50 day moving average is $3.55 and its two-hundred day moving average is $4.05. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $7.27. The firm has a market cap of $303.90 million, a price-to-earnings ratio of -0.90 and a beta of -0.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million during the quarter. Analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $7.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after buying an additional 1,513,748 shares during the period. Almitas Capital LLC boosted its holdings in Amylyx Pharmaceuticals by 2.2% in the fourth quarter. Almitas Capital LLC now owns 2,032,370 shares of the company’s stock valued at $7,682,000 after purchasing an additional 43,807 shares during the period. Boxer Capital Management LLC acquired a new position in Amylyx Pharmaceuticals during the 4th quarter worth $6,615,000. Nantahala Capital Management LLC increased its holdings in Amylyx Pharmaceuticals by 3.4% during the 4th quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company’s stock worth $5,489,000 after purchasing an additional 47,589 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Amylyx Pharmaceuticals by 43.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after purchasing an additional 382,608 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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.