Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $7.33

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine research firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.33.

Several analysts have issued reports on the stock. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Baird R W upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Bank of America upgraded Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price objective for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Finally, 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.

Insiders Place Their Bets

In other news, CEO Justin B. Klee sold 7,471 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the transaction, the chief executive officer now owns 3,176,788 shares in the company, valued at approximately $12,834,223.52. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.70% of the company's stock.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company's stock worth $42,000 after buying an additional 5,104 shares during the period. Algert Global LLC bought a new position in Amylyx Pharmaceuticals during the second quarter worth about $47,000. Hsbc Holdings PLC increased its position in Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company's stock worth $150,000 after acquiring an additional 27,954 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth about $156,000. Finally, Maven Securities LTD boosted its holdings in Amylyx Pharmaceuticals by 300.0% in the 2nd quarter. Maven Securities LTD now owns 100,000 shares of the company's stock valued at $190,000 after purchasing an additional 75,000 shares during the period. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Up 7.7 %

Shares of NASDAQ AMLX traded up $0.24 during trading hours on Wednesday, hitting $3.37. The company had a trading volume of 1,147,883 shares, compared to its average volume of 826,273. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95. The firm's 50 day moving average is $4.72 and its 200-day moving average is $3.49. The stock has a market capitalization of $231.01 million, a P/E ratio of -0.88 and a beta of -0.53.

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.