Short Interest in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Grows By 18.3%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 4,970,000 shares, an increase of 18.3% from the April 30th total of 4,200,000 shares. Based on an average daily volume of 913,100 shares, the short-interest ratio is presently 5.4 days. Currently, 7.6% of the company’s stock are short sold.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $4.92 on Thursday. The company’s 50-day moving average is $4.51 and its two-hundred day moving average is $4.15. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $7.27. The firm has a market capitalization of $438.57 million, a price-to-earnings ratio of -1.29 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. As a group, equities analysts anticipate that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joshua B. Cohen sold 21,490 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $74,570.30. Following the transaction, the chief executive officer now owns 3,355,280 shares in the company, valued at $11,642,821.60. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Camille L. Bedrosian sold 12,425 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $43,114.75. Following the sale, the insider now owns 194,375 shares of the company’s stock, valued at approximately $674,481.25. This trade represents a 6.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,811 shares of company stock valued at $155,494. Corporate insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several large investors have recently modified their holdings of AMLX. Blue Trust Inc. increased its position in shares of Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the first quarter valued at about $35,000. Fox Run Management L.L.C. purchased a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at approximately $45,000. Alpine Global Management LLC acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $45,000. Finally, R Squared Ltd boosted its position in shares of Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after purchasing an additional 6,366 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HC Wainwright increased their price objective on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. TD Cowen assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Friday, May 30th. They set a “buy” rating for the company. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $4.00 to $10.00 in a research report on Wednesday, May 7th. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Mizuho raised their price target on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $9.83.

About Amylyx Pharmaceuticals

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.