Alpha Wave Global LP Acquires New Shares in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Alpha Wave Global LP acquired a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 669,487 shares of the company's stock, valued at approximately $2,169,000. Amylyx Pharmaceuticals comprises about 0.7% of Alpha Wave Global LP's holdings, making the stock its 14th biggest holding. Alpha Wave Global LP owned approximately 0.98% of Amylyx Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMLX. China Universal Asset Management Co. Ltd. lifted its stake in Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company's stock valued at $42,000 after acquiring an additional 5,104 shares during the last quarter. Algert Global LLC acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at about $47,000. CWM LLC grew 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 period. Allspring Global Investments Holdings LLC increased its position in Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company's stock worth $55,000 after buying an additional 13,509 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Amylyx Pharmaceuticals by 113.6% in the second 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 period. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX traded up $0.29 during midday trading on Wednesday, reaching $5.74. The company's stock had a trading volume of 616,724 shares, compared to its average volume of 2,000,332. The company has a market cap of $393.48 million, a P/E ratio of -1.50 and a beta of -0.70. The business's 50 day moving average price is $4.55 and its two-hundred day moving average price is $2.88. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95.

Insiders Place Their Bets

In other news, CEO Justin B. Klee sold 18,589 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the sale, the chief executive officer now owns 3,120,569 shares of the company's stock, valued at approximately $9,985,820.80. This represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the completion of the transaction, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on AMLX shares. Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the stock a "market perform" rating in a research note on Friday, October 18th. Baird R W upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. HC Wainwright lifted their target price on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price target for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, Bank of America upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Amylyx Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $11.43.

Amylyx Pharmaceuticals 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.