Barclays PLC Buys 40,319 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Barclays PLC boosted its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 91.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 84,572 shares of the company’s stock after acquiring an additional 40,319 shares during the quarter. Barclays PLC’s holdings in Amylyx Pharmaceuticals were worth $274,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. FMR LLC raised its stake in shares of Amylyx Pharmaceuticals by 292.0% during the third quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after acquiring an additional 164,622 shares during the last quarter. abrdn plc raised 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 worth $6,390,000 after buying an additional 1,853,995 shares during the last quarter. Alpha Wave Global LP bought a new position in Amylyx Pharmaceuticals during the third quarter worth $2,169,000. Almitas Capital LLC bought a new position in Amylyx Pharmaceuticals during the second quarter worth $3,617,000. Finally, Acadian Asset Management LLC bought a new position in Amylyx Pharmaceuticals during the second quarter worth $2,300,000. Institutional investors own 95.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $4.15 on Monday. The firm has a market cap of $284.47 million, a price-to-earnings ratio of -1.09 and a beta of -0.68. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $19.95. The firm’s 50-day simple moving average is $4.98 and its two-hundred day simple moving average is $3.40.

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.