Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Sees Significant Decline in Short Interest

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLXGet Free Report) was the recipient of a large decrease in short interest in February. As of February 29th, there was short interest totalling 4,370,000 shares, a decrease of 12.2% from the February 14th total of 4,980,000 shares. Currently, 8.5% of the shares of the company are short sold. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Ratings Changes

AMLX has been the topic of several analyst reports. SVB Leerink lowered shares of Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. Robert W. Baird lowered shares of Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research report on Monday, March 11th. Mizuho reduced their price target on shares of Amylyx Pharmaceuticals from $46.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, December 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $36.00 price target on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.33.

Check Out Our Latest Report on Amylyx Pharmaceuticals

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 2,716 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $16.33, for a total transaction of $44,352.28. Following the transaction, the chief financial officer now owns 112,035 shares in the company, valued at approximately $1,829,531.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 2,716 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $16.33, for a total transaction of $44,352.28. Following the transaction, the chief financial officer now owns 112,035 shares in the company, valued at approximately $1,829,531.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick D. Yeramian sold 2,812 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $16.33, for a total transaction of $45,919.96. Following the transaction, the insider now owns 205,605 shares in the company, valued at approximately $3,357,529.65. The disclosure for this sale can be found here. Insiders have sold a total of 21,674 shares of company stock worth $378,754 in the last quarter. Corporate insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in shares of Amylyx Pharmaceuticals by 36.2% during the third quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock valued at $38,000 after acquiring an additional 365 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Amylyx Pharmaceuticals by 79.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,719 shares of the company’s stock valued at $64,000 after acquiring an additional 762 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Amylyx Pharmaceuticals by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,730 shares of the company’s stock valued at $32,000 after acquiring an additional 850 shares during the last quarter. Metropolitan Life Insurance Co NY raised its stake in Amylyx Pharmaceuticals by 42.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,150 shares of the company’s stock worth $116,000 after buying an additional 943 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in Amylyx Pharmaceuticals by 166.4% during the second quarter. Osaic Holdings Inc. now owns 3,522 shares of the company’s stock worth $76,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 87.70% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $3.24 on Friday. The company has a market cap of $219.61 million, a price-to-earnings ratio of 4.63, a PEG ratio of 0.12 and a beta of -0.66. The firm has a 50 day simple moving average of $14.79 and a 200 day simple moving average of $15.90. Amylyx Pharmaceuticals has a one year low of $2.70 and a one year high of $33.33.

Amylyx Pharmaceuticals (NASDAQ:AMLXGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $108.45 million during the quarter, compared to the consensus estimate of $106.40 million. Amylyx Pharmaceuticals had a net margin of 12.94% and a return on equity of 12.39%. During the same quarter last year, the firm earned ($0.65) earnings per share. As a group, analysts expect that Amylyx Pharmaceuticals will post -0.48 EPS for the current year.

About Amylyx Pharmaceuticals

(Get Free Report)

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.

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