Insider Selling: Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO Sells 10,896 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) CFO James M. Frates sold 10,896 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $37,809.12. Following the sale, the chief financial officer now directly owns 290,988 shares in the company, valued at $1,009,728.36. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX opened at $3.51 on Friday. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $7.27. The firm has a market capitalization of $310.99 million, a P/E ratio of -0.92 and a beta of -0.51. The stock has a 50-day simple moving average of $3.55 and a two-hundred day simple moving average of $4.05.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. As a group, analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.33.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Amylyx Pharmaceuticals by 232.1% in the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after acquiring an additional 4,883 shares during the period. Fox Run Management L.L.C. acquired a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals during the fourth quarter worth approximately $45,000. RPO LLC acquired a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $46,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.