Alpha Wave Global LP Trims Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Alpha Wave Global LP decreased its position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 77.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 148,627 shares of the company's stock after selling 520,860 shares during the period. Amylyx Pharmaceuticals comprises 0.3% of Alpha Wave Global LP's portfolio, making the stock its 18th biggest position. Alpha Wave Global LP owned about 0.22% of Amylyx Pharmaceuticals worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AMLX. JPMorgan Chase & Co. increased its stake in shares of Amylyx Pharmaceuticals by 144.4% during the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company's stock worth $455,000 after purchasing an additional 83,048 shares during the period. American Century Companies Inc. increased its stake in Amylyx Pharmaceuticals by 181.8% in the fourth quarter. American Century Companies Inc. now owns 59,310 shares of the company's stock valued at $224,000 after acquiring an additional 38,261 shares during the last quarter. Barclays PLC raised its position in Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company's stock valued at $274,000 after purchasing an additional 40,319 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth $793,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at approximately $56,000. Institutional investors own 95.84% of the company's stock.

Insiders Place Their Bets

In other news, CEO Joshua B. Cohen sold 11,851 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total transaction of $41,122.97. Following the completion of the sale, the chief executive officer now directly owns 3,201,247 shares of the company's stock, valued at approximately $11,108,327.09. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Camille L. Bedrosian sold 12,425 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $43,114.75. Following the transaction, the insider now owns 194,375 shares in the company, valued at $674,481.25. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,509 shares of company stock worth $222,586 in the last ninety days. 11.70% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Trading Up 4.7 %

Shares of NASDAQ:AMLX traded up $0.23 during mid-day trading on Wednesday, hitting $5.15. 464,263 shares of the company traded hands, compared to its average volume of 1,277,900. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $7.27. The stock has a market cap of $456.30 million, a P/E ratio of -1.35 and a beta of -0.53. The stock has a 50-day moving average price of $3.60 and a two-hundred day moving average price of $4.13.

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

Analyst Ratings Changes

AMLX has been the topic of several recent research reports. Mizuho raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $3.00 to $7.00 in a report on Monday, April 7th. HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.00.

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.