Insider Selling: Amylyx Pharmaceuticals (NASDAQ:AMLX) CEO Sells 136,193 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CEO Joshua Cohen sold 136,193 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $13.59, for a total value of $1,850,862.87. Following the transaction, the chief executive officer owned 3,378,546 shares in the company, valued at approximately $45,914,440.14. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Amylyx Pharmaceuticals Trading Up 15.7%

Shares of NASDAQ:AMLX traded up $2.25 during mid-day trading on Tuesday, reaching $16.55. The stock had a trading volume of 4,418,477 shares, compared to its average volume of 1,376,666. The firm has a 50 day simple moving average of $13.17 and a two-hundred day simple moving average of $11.75. Amylyx Pharmaceuticals, Inc. has a twelve month low of $2.60 and a twelve month high of $16.96. The firm has a market cap of $1.82 billion, a PE ratio of -9.19 and a beta of -0.31.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Citigroup increased their target price on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Bank of America raised their target price on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Finally, HC Wainwright increased their price objective on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently made changes to their positions in AMLX. California State Teachers Retirement System acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at $45,000. BNP Paribas Financial Markets lifted its position in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after buying an additional 5,904 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $48,000. 95.84% of the stock is owned by institutional investors.

About Amylyx Pharmaceuticals

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.