Amylyx Pharmaceuticals (NASDAQ:AMLX) Trading 11.7% Higher – Still a Buy?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)’s share price shot up 11.7% on Tuesday . The company traded as high as $15.89 and last traded at $15.9670. 906,704 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 1,665,087 shares. The stock had previously closed at $14.30.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Robert W. Baird raised their price objective on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. HC Wainwright boosted their price target on Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Bank of America lifted their price objective on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Amylyx Pharmaceuticals Price Performance

The stock’s 50 day moving average is $13.09 and its two-hundred day moving average is $11.68. The firm has a market capitalization of $1.82 billion, a P/E ratio of -9.19 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. As a group, equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 7,715 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.09, for a total value of $85,559.35. Following the completion of the sale, the chief executive officer owned 3,317,586 shares in the company, valued at $36,792,028.74. This trade represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Firestone acquired 8,100 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was purchased at an average cost of $12.45 per share, with a total value of $100,845.00. Following the transaction, the director owned 63,100 shares in the company, valued at approximately $785,595. This trade represents a 14.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 17,621 shares of company stock worth $216,934 in the last 90 days. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in Amylyx Pharmaceuticals by 76.4% during the fourth quarter. SG Americas Securities LLC now owns 20,846 shares of the company’s stock worth $252,000 after purchasing an additional 9,027 shares during the period. Maven Securities LTD acquired a new stake in shares of Amylyx Pharmaceuticals during the 3rd quarter worth about $951,000. TCG Crossover Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 5.0% during the 3rd quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock worth $84,853,000 after buying an additional 300,000 shares during the period. Dark Forest Capital Management LP acquired a new position in Amylyx Pharmaceuticals in the 3rd quarter valued at about $1,180,000. Finally, Verition Fund Management LLC acquired a new position in Amylyx Pharmaceuticals in the 3rd quarter valued at about $868,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.