Amylyx Pharmaceuticals’ (AMLX) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research note issued to investors on Friday morning,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Bank of America lifted their price objective on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Citigroup lifted their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Robert W. Baird lifted their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.75.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX opened at $14.17 on Friday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.67 and a beta of -0.33. The company’s 50-day simple moving average is $12.22 and its two-hundred day simple moving average is $8.19. Amylyx Pharmaceuticals has a one year low of $2.60 and a one year high of $16.96.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Equities analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO James M. Frates sold 10,558 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.65, for a total value of $154,674.70. Following the completion of the sale, the chief financial officer directly owned 280,430 shares in the company, valued at $4,108,299.50. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gina Mazzariello sold 8,828 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.58, for a total transaction of $128,712.24. Following the completion of the sale, the insider owned 148,141 shares of the company’s stock, valued at $2,159,895.78. This trade represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,333 shares of company stock worth $1,319,495 over the last ninety days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of AMLX. Adage Capital Partners GP L.L.C. acquired a new stake in Amylyx Pharmaceuticals during the 1st quarter valued at approximately $20,170,000. Millennium Management LLC lifted its stake in Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after acquiring an additional 2,487,617 shares during the period. Woodline Partners LP acquired a new stake in Amylyx Pharmaceuticals during the 1st quarter valued at approximately $5,697,000. Nantahala Capital Management LLC lifted its stake in Amylyx Pharmaceuticals by 102.1% during the 1st quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company’s stock valued at $10,388,000 after acquiring an additional 1,482,252 shares during the period. Finally, ADAR1 Capital Management LLC lifted its stake in Amylyx Pharmaceuticals by 14,615.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,471,587 shares of the company’s stock valued at $5,209,000 after acquiring an additional 1,461,587 shares during the period. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.