Short Interest in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Decreases By 5.2%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,450,000 shares, a decline of 5.2% from the November 15th total of 1,530,000 shares. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is currently 1.0 days. Approximately 3.4% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $4.28 on Wednesday. The company has a 50-day simple moving average of $5.06 and a 200-day simple moving average of $3.20. The company has a market cap of $293.39 million, a PE ratio of -1.12 and a beta of -0.68. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95.

Insiders Place Their Bets

In related news, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, the chief executive officer now owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the completion of the transaction, the insider now directly owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares during the period. Algert Global LLC acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at $47,000. CWM LLC lifted its position in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after buying an additional 14,613 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Amylyx Pharmaceuticals by 88.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after buying an additional 13,509 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after buying an additional 29,697 shares during the period. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.