abrdn plc Has $6.39 Million Stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

abrdn plc boosted its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 1,567.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,972,242 shares of the company’s stock after acquiring an additional 1,853,995 shares during the period. abrdn plc owned 2.90% of Amylyx Pharmaceuticals worth $6,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Amylyx Pharmaceuticals by 52,575.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after acquiring an additional 15,247 shares during the last quarter. Algert Global LLC acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at about $47,000. CWM LLC raised its position in shares of Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after buying an additional 14,613 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after buying an additional 29,697 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after buying an additional 27,954 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMLX shares. The Goldman Sachs Group upped their price objective on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Amylyx Pharmaceuticals in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amylyx Pharmaceuticals has an average rating of “Hold” and an average target price of $14.57.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 18,589 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 $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 18,589 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 $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $36,614.40. Following the completion of the transaction, the insider now directly owns 143,801 shares in the company, valued at approximately $460,163.20. The trade was a 0.00 % 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 Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $5.64 on Friday. The firm has a market cap of $383.97 million, a P/E ratio of -2.30 and a beta of -0.55. The firm has a 50 day simple moving average of $3.36 and a 200 day simple moving average of $2.41. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). The company had revenue of ($1.02) million during the quarter, compared to analyst estimates of $18.83 million. Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. During the same period in the prior year, the business earned $0.31 EPS. On average, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -3.03 EPS for the current year.

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.