Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Free Report) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 7,570,000 shares, a decline of 5.3% from the May 15th total of 7,990,000 shares. Approximately 16.5% of the shares of the company are sold short. Based on an average daily trading volume, of 2,370,000 shares, the short-interest ratio is currently 3.2 days.
Hedge Funds Weigh In On Amylyx Pharmaceuticals
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Stonepine Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 124.4% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,515,868 shares of the company’s stock valued at $46,066,000 after acquiring an additional 1,394,840 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Amylyx Pharmaceuticals during the first quarter valued at $3,267,000. Adage Capital Partners GP L.L.C. boosted its holdings in Amylyx Pharmaceuticals by 121.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,200 shares of the company’s stock valued at $31,131,000 after purchasing an additional 932,000 shares during the last quarter. Avidity Partners Management LP grew its position in Amylyx Pharmaceuticals by 94.9% during the 3rd quarter. Avidity Partners Management LP now owns 1,756,940 shares of the company’s stock worth $32,170,000 after purchasing an additional 855,540 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Amylyx Pharmaceuticals by 114.4% during the 4th quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company’s stock valued at $19,504,000 after buying an additional 707,134 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.
Amylyx Pharmaceuticals Trading Up 0.6 %
Shares of AMLX stock opened at $1.65 on Tuesday. The stock has a fifty day simple moving average of $1.87 and a two-hundred day simple moving average of $8.87. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $25.48. The stock has a market capitalization of $112.22 million, a price-to-earnings ratio of -1.54 and a beta of -0.68.
Analyst Ratings Changes
AMLX has been the topic of a number of analyst reports. SVB Leerink cut Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. Robert W. Baird downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Monday, March 11th. Evercore ISI reaffirmed an “in-line” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. Finally, Leerink Partnrs cut Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday, March 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of “Hold” and an average price target of $28.67.
View Our Latest Stock Analysis on AMLX
About Amylyx Pharmaceuticals
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.
See Also
- Five stocks we like better than Amylyx Pharmaceuticals
- What Does a Stock Split Mean?
- CAVA’s Per-Restaurant Stock Value Outshines Chipotle’s
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- The Most Shorted Stocks in June: Hold, Short, or Squeeze?
- What Are Dividend Challengers?
- Top 2 Small Cap Healthcare Stocks to Buy Before Rate Cuts
Receive News & Ratings for Amylyx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amylyx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.