Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Amylyx Pharmaceuticals, Inc. $AMLX

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,154,485 shares of the company’s stock after selling 45,206 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amylyx Pharmaceuticals were worth $7,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AMLX. R Squared Ltd lifted 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 valued at $45,000 after buying an additional 6,366 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Amylyx Pharmaceuticals by 24.7% in the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company’s stock worth $51,000 after acquiring an additional 2,853 shares during the last quarter. Paloma Partners Management Co bought a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at about $79,000. Los Angeles Capital Management LLC purchased a new stake in Amylyx Pharmaceuticals during the second quarter valued at about $149,000. Finally, Invesco Ltd. purchased a new stake in Amylyx Pharmaceuticals during the first quarter valued at about $162,000. 95.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. The Goldman Sachs Group lifted their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. HC Wainwright boosted their target price on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 7th. Guggenheim raised their price target on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Citigroup lifted their price target on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Amylyx Pharmaceuticals Stock Down 2.8%

Amylyx Pharmaceuticals stock opened at $12.33 on Thursday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -6.85 and a beta of -0.34. The business has a 50-day simple moving average of $13.35 and a 200 day simple moving average of $9.01. Amylyx Pharmaceuticals, Inc. has a 52 week low of $2.60 and a 52 week high of $16.96.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.06. On average, research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Gina Mazzariello sold 8,828 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total value of $128,712.24. Following the transaction, the insider owned 148,141 shares of the company’s stock, valued at $2,159,895.78. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Frates sold 10,558 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $14.65, for a total transaction of $154,674.70. Following the sale, the chief financial officer owned 280,430 shares in the company, valued at approximately $4,108,299.50. This trade represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 91,333 shares of company stock valued at $1,319,495 over the last three months. Corporate insiders own 12.30% of the company’s stock.

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.