Jacobs Levy Equity Management Inc. Sells 110,671 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Jacobs Levy Equity Management Inc. lowered its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 18.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,440 shares of the company's stock after selling 110,671 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.70% of Amylyx Pharmaceuticals worth $1,550,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AMLX. abrdn plc boosted its stake in shares of Amylyx Pharmaceuticals by 1,567.9% during the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company's stock worth $6,390,000 after acquiring an additional 1,853,995 shares in the last quarter. Alpha Wave Global LP acquired a new position in Amylyx Pharmaceuticals during the third quarter worth $2,169,000. Almitas Capital LLC acquired a new position in Amylyx Pharmaceuticals during the second quarter worth $3,617,000. Acadian Asset Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $2,300,000. Finally, AQR Capital Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company's stock valued at $6,348,000 after acquiring an additional 3,224,454 shares during the last quarter. Institutional investors own 95.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $3.00 to $11.00 in a report on Monday, November 18th. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the stock a "market perform" rating in a report on Friday, October 18th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Thursday. Bank of America upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their target price for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Finally, Baird R W raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.43.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CFO James M. Frates acquired 40,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the acquisition, the chief financial officer now owns 233,464 shares in the company, valued at $590,663.92. This trade represents a 20.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of the company's 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 owns 143,801 shares in the company, valued at approximately $460,163.20. This trade represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.70% of the company's stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX traded down $0.14 during mid-day trading on Monday, hitting $5.00. The company had a trading volume of 243,760 shares, compared to its average volume of 1,956,737. The stock's 50-day moving average price is $4.88 and its 200-day moving average price is $3.07. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $19.95.

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.