Kestra Advisory Services LLC purchased a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,683 shares of the company’s stock, valued at approximately $1,202,000. Kestra Advisory Services LLC owned about 0.06% of Amylyx Pharmaceuticals as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMLX. Parsons Capital Management Inc. RI acquired a new position in Amylyx Pharmaceuticals in the third quarter worth $475,000. Emerald Mutual Fund Advisers Trust bought a new stake in Amylyx Pharmaceuticals during the 3rd quarter worth about $13,284,000. Emerald Advisers LLC acquired a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at about $16,925,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Amylyx Pharmaceuticals in the third quarter worth about $51,000. Finally, High Net Worth Advisory Group LLC lifted its position in shares of Amylyx Pharmaceuticals by 33.3% during the third quarter. High Net Worth Advisory Group LLC now owns 2,000 shares of the company’s stock worth $56,000 after purchasing an additional 500 shares in the last quarter. 70.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AMLX has been the subject of several research analyst reports. HC Wainwright boosted their price objective on shares of Amylyx Pharmaceuticals from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, October 24th. Citigroup upped their price target on Amylyx Pharmaceuticals to $51.00 in a research note on Wednesday, November 16th. Finally, Bank of America initiated coverage on Amylyx Pharmaceuticals in a research report on Thursday, January 5th. They issued a “buy” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.20.
Amylyx Pharmaceuticals Price Performance
Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.05. The firm had revenue of $0.35 million during the quarter. Analysts predict that Amylyx Pharmaceuticals, Inc. will post -3.54 earnings per share for the current year.
Amylyx Pharmaceuticals Profile
Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.
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