Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates Buys 40,000 Shares

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates bought 40,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the transaction, the chief financial officer now directly owns 233,464 shares in the company, valued at $590,663.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $2.88 on Thursday. The business has a 50 day simple moving average of $2.18 and a two-hundred day simple moving average of $2.61. The stock has a market capitalization of $195.86 million, a P/E ratio of -2.69 and a beta of -0.62. Amylyx Pharmaceuticals, Inc. has a 12 month low of $1.58 and a 12 month high of $19.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. The business had revenue of ($1.02) million for the quarter, compared to analyst estimates of $18.83 million. During the same period last year, the firm earned $0.31 EPS. As a group, research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of AMLX. Point72 Asia Singapore Pte. Ltd. purchased a new position in Amylyx Pharmaceuticals in the 2nd quarter worth approximately $156,000. Maven Securities LTD increased its holdings in shares of Amylyx Pharmaceuticals by 300.0% in the second quarter. Maven Securities LTD now owns 100,000 shares of the company’s stock valued at $190,000 after purchasing an additional 75,000 shares during the last quarter. Algert Global LLC purchased a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $47,000. Almitas Capital LLC acquired a new position in Amylyx Pharmaceuticals during the second quarter worth $3,617,000. Finally, AQR Capital Management LLC increased its stake in shares of Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after acquiring an additional 3,224,454 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMLX has been the topic of a number of recent analyst reports. 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. The Goldman Sachs Group lifted their price target on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.60.

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.