Short Interest in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Declines By 24.4%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,490,000 shares, a decrease of 24.4% from the August 15th total of 1,970,000 shares. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is currently 0.9 days. Approximately 3.6% of the shares of the stock are short sold.

Amylyx Pharmaceuticals Trading Up 1.1 %

AMLX stock opened at $2.65 on Tuesday. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The stock has a market cap of $180.22 million, a price-to-earnings ratio of -2.48 and a beta of -0.62. The business’s 50-day moving average is $2.14 and its 200 day moving average is $2.72.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.35). The company had revenue of ($1.02) million for the quarter, compared to analysts’ expectations of $18.83 million. Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. During the same period last year, the business earned $0.31 EPS. As a group, equities analysts forecast that Amylyx Pharmaceuticals will post -2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMLX has been the topic of several research reports. The Goldman Sachs Group lifted their target price on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.60.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CFO James M. Frates bought 40,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the transaction, the chief financial officer now directly owns 233,464 shares in the company, valued at $590,663.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amylyx Pharmaceuticals news, CFO James M. Frates purchased 40,000 shares of the stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $2.53 per share, with a total value of $101,200.00. Following the completion of the purchase, the chief financial officer now directly owns 233,464 shares of the company’s stock, valued at approximately $590,663.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George M. Milne, Jr. acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of 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. Almitas Capital LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth $3,617,000. Acadian Asset Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $2,300,000. Farallon Capital Management LLC acquired a new position in Amylyx Pharmaceuticals in the 1st quarter valued at approximately $3,267,000. Finally, Franklin Resources Inc. raised its position in Amylyx Pharmaceuticals by 114.4% during the fourth quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company’s stock valued at $19,504,000 after acquiring an additional 707,134 shares in the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

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.