Geode Capital Management LLC Raises Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Geode Capital Management LLC lifted its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 17.5% during the third quarter, Holdings Channel reports. The fund owned 551,039 shares of the company’s stock after purchasing an additional 82,173 shares during the quarter. Geode Capital Management LLC’s holdings in Amylyx Pharmaceuticals were worth $1,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMLX. China Universal Asset Management Co. Ltd. lifted its holdings in Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after purchasing an additional 5,104 shares in the last quarter. Algert Global LLC purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $47,000. Hsbc Holdings PLC boosted its position in Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock worth $150,000 after acquiring an additional 27,954 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth approximately $156,000. Finally, Barclays PLC raised its holdings in Amylyx Pharmaceuticals by 91.1% in the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after acquiring an additional 40,319 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insider Transactions at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the completion of the sale, the chief executive officer now directly owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.70% of the company’s stock.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $3.77 on Thursday. The company has a market cap of $258.43 million, a PE ratio of -0.99 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $19.95. The firm has a 50 day moving average price of $4.90 and a 200 day moving average price of $3.44.

Analyst Ratings Changes

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

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.