Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Sees Large Decline in Short Interest

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,490,000 shares, a decrease of 24.4% from the August 15th total of 1,970,000 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average trading volume of 1,600,000 shares, the days-to-cover ratio is presently 0.9 days.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. bought 100,000 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the purchase, the director now directly owns 858,571 shares of the company’s stock, valued at $1,888,856.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of AMLX. Allspring Global Investments Holdings LLC grew its stake in Amylyx Pharmaceuticals by 52,575.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after buying an additional 15,247 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at $47,000. CWM LLC raised its position in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after purchasing an additional 14,613 shares in the last quarter. Quest Partners LLC bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter valued at about $89,000. Finally, SG Americas Securities LLC grew its position in Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after acquiring an additional 29,697 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMLX. The Goldman Sachs Group lifted their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.60.

Amylyx Pharmaceuticals Stock Up 1.9 %

Shares of AMLX stock traded up $0.05 on Monday, reaching $2.67. The company’s stock had a trading volume of 289,855 shares, compared to its average volume of 2,117,809. The company has a market capitalization of $181.58 million, a P/E ratio of -2.48 and a beta of -0.62. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The stock’s 50 day simple moving average is $2.12 and its 200-day simple moving average is $2.84.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.35). The business had revenue of ($1.02) million during the quarter, compared to analysts’ expectations of $18.83 million. Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. During the same period in the previous year, the business earned $0.31 EPS. Research analysts expect that Amylyx Pharmaceuticals will post -2.27 EPS for the current year.

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.