Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Major Shareholder Morningside Venture Investment Sells 70,714 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) major shareholder Morningside Venture Investment sold 70,714 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $34.54, for a total transaction of $2,442,461.56. Following the completion of the sale, the insider now directly owns 7,409,884 shares in the company, valued at approximately $255,937,393.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Morningside Venture Investment also recently made the following trade(s):

• On Thursday, March 16th, Morningside Venture Investment sold 9,122 shares of Amylyx Pharmaceuticals stock. The shares were sold at an average price of $32.55, for a total transaction of $296,921.10.
• On Thursday, March 2nd, Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock. The shares were sold at an average price of $33.75, for a total transaction of $1,687,500.00.
• On Wednesday, February 22nd, Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock. The shares were sold at an average price of $34.73, for a total transaction of $1,736,500.00.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $30.29 on Friday. The firm has a 50 day simple moving average of $35.76 and a 200-day simple moving average of $34.16. The firm has a market cap of $2.02 billion, a PE ratio of -8.83 and a beta of -0.63. Amylyx Pharmaceuticals, Inc. has a 1-year low of $6.51 and a 1-year high of $41.93.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last issued its quarterly earnings results on Monday, March 13th. The company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.12. The company had revenue of $21.89 million for the quarter, compared to analyst estimates of $3.05 million. As a group, sell-side analysts expect that Amylyx Pharmaceuticals, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of AMLX. High Net Worth Advisory Group LLC increased its position in 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 during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Amylyx Pharmaceuticals during the third quarter worth approximately $51,000. Emerald Advisers LLC purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth approximately $16,925,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth approximately $13,284,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth approximately $475,000. Institutional investors and hedge funds own 70.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Amylyx Pharmaceuticals in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Amylyx Pharmaceuticals from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup boosted their price objective on shares of Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America initiated coverage on shares of 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.20.

Amylyx Pharmaceuticals Company Profile

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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.