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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 27.7% from the October 15th total of 1,010,000 shares. Based on an average trading volume of 1,340,000 shares, the short-interest ratio is currently 1.0 days. Currently, 3.1% of the shares of the company are sold short.

Insider Activity

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

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. abrdn plc grew its stake in Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after acquiring an additional 1,853,995 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at $3,617,000. Acadian Asset Management LLC purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at $2,300,000. AQR Capital Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 2,768.0% in the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after purchasing an additional 3,224,454 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth $400,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMLX has been the subject of a number of recent research reports. HC Wainwright raised their target price on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America upgraded Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Finally, 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.14.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX opened at $4.76 on Friday. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $19.95. The stock’s 50-day simple moving average is $4.12 and its 200 day simple moving average is $2.69. The stock has a market capitalization of $326.29 million, a price-to-earnings ratio of -1.25 and a beta of -0.70.

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.