Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Down 4.5% – Should You Sell?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was down 4.5% during mid-day trading on Thursday . The stock traded as low as $16.25 and last traded at $16.1650. Approximately 1,109,476 shares traded hands during trading, a decline of 46% from the average daily volume of 2,037,642 shares. The stock had previously closed at $16.92.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMLX shares. HC Wainwright lifted their price objective on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Citigroup raised their target price on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Robert W. Baird lifted their price target on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Finally, Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Amylyx Pharmaceuticals Stock Down 4.1%

The stock has a fifty day moving average price of $13.26 and a two-hundred day moving average price of $11.79. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -9.02 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly 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. Analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In related news, Director Karen Firestone bought 8,100 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was purchased at an average cost of $12.45 per share, for a total transaction of $100,845.00. Following the transaction, the director owned 63,100 shares in the company, valued at $785,595. The trade was a 14.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Camille L. Bedrosian sold 6,580 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.35, for a total value of $94,423.00. Following the sale, the insider directly owned 175,756 shares in the company, valued at approximately $2,522,098.60. This trade represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 157,783 shares of company stock worth $2,122,808. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Amylyx Pharmaceuticals during the 3rd quarter worth approximately $48,000. California State Teachers Retirement System bought a new stake in Amylyx Pharmaceuticals during the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $45,000. BNP Paribas Financial Markets raised its holdings in shares of 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. Finally, Legal & General Group Plc bought a new position in shares of Amylyx Pharmaceuticals in the second quarter worth about $47,000. Institutional investors own 95.84% of the company’s stock.

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.