Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,940,000 shares, a growth of 23.6% from the December 31st total of 1,570,000 shares. Currently, 4.5% of the company's stock are sold short. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 1.6 days.

Amylyx Pharmaceuticals Stock Up 4.0 %

Shares of NASDAQ AMLX traded up $0.14 during midday trading on Friday, reaching $3.65. 1,391,760 shares of the stock were exchanged, compared to its average volume of 873,081. The firm has a market cap of $250.21 million, a price-to-earnings ratio of -0.96 and a beta of -0.53. The firm has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $3.62. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95.

Insider Activity

In other news, CEO Justin B. Klee sold 7,471 shares of the company's stock in a transaction dated Monday, January 6th. The shares were 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 $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Amylyx Pharmaceuticals by 292.0% during the 3rd quarter. FMR LLC now owns 221,001 shares of the company's stock valued at $716,000 after acquiring an additional 164,622 shares during the period. abrdn plc boosted its position in Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company's stock worth $6,390,000 after purchasing an additional 1,853,995 shares in the last quarter. Alpha Wave Global LP purchased a new position in Amylyx Pharmaceuticals during the third quarter worth approximately $2,169,000. JPMorgan Chase & Co. grew its holdings in Amylyx Pharmaceuticals by 144.4% in the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company's stock valued at $455,000 after purchasing an additional 83,048 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Amylyx Pharmaceuticals by 2,768.0% in the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company's stock valued at $6,348,000 after buying an additional 3,224,454 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMLX shares. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. HC Wainwright reissued a "buy" rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Baird R W upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, Bank of America raised shares of 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 report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $7.33.

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.