Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,450,000 shares, a drop of 5.2% from the November 15th total of 1,530,000 shares. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 3.4% of the company's shares are sold short.
Amylyx Pharmaceuticals Stock Up 2.4 %
Shares of NASDAQ:AMLX traded up $0.10 during trading on Tuesday, hitting $4.28. The stock had a trading volume of 704,051 shares, compared to its average volume of 1,931,144. The company has a market capitalization of $293.39 million, a PE ratio of -1.09 and a beta of -0.68. The firm's fifty day moving average is $5.04 and its 200 day moving average is $3.18. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95.
Insider Buying and Selling
In related news, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the completion of the sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This represents a 7.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the completion of the transaction, the chief executive officer now directly owns 3,120,569 shares in the company, valued at $9,985,820.80. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Amylyx Pharmaceuticals
Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 63.9% in 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 purchased a new stake in Amylyx Pharmaceuticals in the second quarter worth about $47,000. CWM LLC increased its stake in shares of Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company's stock valued at $54,000 after purchasing an additional 14,613 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company's stock valued at $55,000 after purchasing an additional 13,509 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company's stock worth $106,000 after purchasing an additional 29,697 shares in the last quarter. Institutional investors own 95.84% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on AMLX shares. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Baird R W upgraded 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 target on Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research report on Friday, October 18th. Bank of America upgraded Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Finally, HC Wainwright restated a "buy" rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.33.
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About Amylyx Pharmaceuticals
(
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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.
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