State Board of Administration of Florida Retirement System Buys New Shares in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

State Board of Administration of Florida Retirement System bought a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 8,310 shares of the company’s stock, valued at approximately $307,000.

Other institutional investors also recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in Amylyx Pharmaceuticals during the 3rd quarter valued at $1,202,000. Barclays PLC increased its stake in Amylyx Pharmaceuticals by 3,169.6% during the 3rd quarter. Barclays PLC now owns 18,800 shares of the company’s stock valued at $529,000 after purchasing an additional 18,225 shares in the last quarter. New York State Common Retirement Fund increased its stake in Amylyx Pharmaceuticals by 154.5% during the 3rd quarter. New York State Common Retirement Fund now owns 23,406 shares of the company’s stock valued at $659,000 after purchasing an additional 14,209 shares in the last quarter. Amalgamated Bank increased its stake in Amylyx Pharmaceuticals by 213.5% during the 3rd quarter. Amalgamated Bank now owns 4,778 shares of the company’s stock valued at $135,000 after purchasing an additional 3,254 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in Amylyx Pharmaceuticals during the 3rd quarter valued at $340,000. Institutional investors and hedge funds own 70.55% of the company’s stock.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 32,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $26.94, for a total value of $875,550.00. Following the completion of the transaction, the chief financial officer now owns 55,676 shares of the company’s stock, valued at approximately $1,499,911.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO James M. Frates sold 32,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $26.94, for a total transaction of $875,550.00. Following the completion of the sale, the chief financial officer now owns 55,676 shares of the company’s stock, valued at approximately $1,499,911.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Morningside Venture Investment sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $34.73, for a total transaction of $1,736,500.00. Following the sale, the insider now directly owns 7,530,598 shares of the company’s stock, valued at approximately $261,537,668.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 653,053 shares of company stock valued at $20,872,177. 12.70% of the stock is owned by insiders.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $26.70 on Monday. Amylyx Pharmaceuticals, Inc. has a one year low of $7.64 and a one year high of $41.93. The company’s 50 day moving average price is $29.44 and its two-hundred day moving average price is $33.74. The company has a market capitalization of $1.79 billion, a PE ratio of -10.77, a price-to-earnings-growth ratio of 1.03 and a beta of -0.84.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last issued its quarterly earnings data on Monday, March 13th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.12. The company had revenue of $21.89 million for the quarter, compared to analysts’ expectations of $3.05 million. On average, research analysts predict that Amylyx Pharmaceuticals, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

AMLX has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. The Goldman Sachs Group upped their target price on shares of Amylyx Pharmaceuticals from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Amylyx Pharmaceuticals in a research note on Tuesday, March 14th. Finally, Mizuho reduced their target price on shares of Amylyx Pharmaceuticals from $52.00 to $50.00 in a research note on Monday, May 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.17.

About Amylyx Pharmaceuticals

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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.