Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Sells 7,471 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Justin B. Klee sold 7,471 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the transaction, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock traded down $0.07 on Wednesday, hitting $3.77. The stock had a trading volume of 289,219 shares, compared to its average volume of 429,004. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $19.95. The stock has a 50 day moving average of $4.93 and a 200 day moving average of $3.43. The firm has a market capitalization of $258.43 million, a P/E ratio of -0.99 and a beta of -0.53.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Amylyx Pharmaceuticals by 144.4% in the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after buying an additional 83,048 shares during the period. Barclays PLC lifted its stake in Amylyx Pharmaceuticals by 91.1% in the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after buying an additional 40,319 shares during the period. Geode Capital Management LLC grew its position in shares of Amylyx Pharmaceuticals by 17.5% during the 3rd quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after buying an additional 82,173 shares during the period. Walleye Capital LLC increased its stake in shares of Amylyx Pharmaceuticals by 986.5% in the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after acquiring an additional 608,874 shares in the last quarter. Finally, Alpha Wave Global LP bought a new stake in Amylyx Pharmaceuticals in the third quarter valued at $2,169,000. 95.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMLX. Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Finally, Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $7.33.

Amylyx Pharmaceuticals Company 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.