Federated Hermes Inc. Sells 221,760 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Federated Hermes Inc. trimmed its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 68.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,500 shares of the company’s stock after selling 221,760 shares during the period. Federated Hermes Inc. owned approximately 0.15% of Amylyx Pharmaceuticals worth $1,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMLX. SG Americas Securities LLC lifted its position in Amylyx Pharmaceuticals by 155.5% in the third quarter. SG Americas Securities LLC now owns 21,255 shares of the company’s stock worth $389,000 after buying an additional 12,936 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Amylyx Pharmaceuticals by 16.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,134 shares of the company’s stock valued at $112,000 after acquiring an additional 859 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Amylyx Pharmaceuticals by 3.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,254 shares of the company’s stock worth $444,000 after acquiring an additional 905 shares during the last quarter. Emerald Advisers LLC boosted its stake in shares of Amylyx Pharmaceuticals by 0.8% during the 3rd quarter. Emerald Advisers LLC now owns 838,572 shares of the company’s stock worth $15,354,000 after purchasing an additional 6,764 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Amylyx Pharmaceuticals by 41.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 49,566 shares of the company’s stock valued at $908,000 after purchasing an additional 14,427 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insider Activity

In related news, CEO Joshua B. Cohen sold 4,135 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $77,448.55. Following the transaction, the chief executive officer now directly owns 3,023,002 shares of the company’s stock, valued at $56,620,827.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Gina Mazzariello sold 2,838 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $18.76, for a total transaction of $53,240.88. Following the completion of the sale, the insider now directly owns 46,245 shares in the company, valued at approximately $867,556.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 4,135 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total value of $77,448.55. Following the completion of the transaction, the chief executive officer now owns 3,023,002 shares in the company, valued at approximately $56,620,827.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,305 shares of company stock worth $193,098. 11.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AMLX. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Monday, April 8th. Robert W. Baird cut Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a report on Monday, March 11th. SVB Leerink downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. Leerink Partnrs downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. Finally, Evercore ISI reissued an “in-line” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.67.

Amylyx Pharmaceuticals Stock Up 8.0 %

Shares of NASDAQ AMLX opened at $1.90 on Tuesday. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.70 and a twelve month high of $30.50. The firm has a market cap of $129.22 million, a PE ratio of 2.71 and a beta of -0.92. The business has a fifty day simple moving average of $6.63 and a two-hundred day simple moving average of $12.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Amylyx Pharmaceuticals had a return on equity of 12.39% and a net margin of 12.94%. The firm had revenue of $108.45 million for the quarter, compared to analyst estimates of $106.40 million. During the same quarter last year, the firm posted ($0.65) earnings per share. On average, research analysts expect that Amylyx Pharmaceuticals, Inc. will post -1.01 earnings per share for the current year.

Amylyx Pharmaceuticals Profile

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.