Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Bought by Fmr LLC

Fmr LLC boosted its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 292.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 221,001 shares of the company’s stock after buying an additional 164,622 shares during the period. Fmr LLC’s holdings in Amylyx Pharmaceuticals were worth $716,000 at the end of the most recent reporting period.

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

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX opened at $4.28 on Wednesday. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The company has a market capitalization of $293.39 million, a PE ratio of -1.12 and a beta of -0.68. The stock has a fifty day moving average of $5.06 and a two-hundred day moving average of $3.20.

Wall Street Analysts Forecast Growth

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

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders own 11.70% 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.