Insider Buying: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO Purchases 40,000 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates acquired 40,000 shares of Amylyx Pharmaceuticals stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $2.53 per share, with a total value of $101,200.00. Following the transaction, the chief financial officer now owns 233,464 shares in the company, valued at $590,663.92. The purchase was disclosed in a filing with the SEC, which is available through this link.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX traded up $0.03 during mid-day trading on Monday, reaching $2.65. 732,382 shares of the company’s stock traded hands, compared to its average volume of 2,120,145. The business has a 50-day simple moving average of $2.12 and a 200 day simple moving average of $2.84. The stock has a market cap of $180.22 million, a P/E ratio of -2.49 and a beta of -0.62. Amylyx Pharmaceuticals, Inc. has a 1-year low of $1.58 and a 1-year high of $19.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). The company had revenue of ($1.02) million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.31 EPS. Equities research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

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

Analyst Upgrades and Downgrades

A number of research firms have commented on AMLX. The Goldman Sachs Group raised their price target on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.60.

Amylyx Pharmaceuticals Company 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.