Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Up 8.3% in December

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,570,000 shares, an increase of 8.3% from the November 30th total of 1,450,000 shares. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 3.6% of the company's stock are sold short.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock traded down $0.06 during trading on Tuesday, reaching $3.78. The company's stock had a trading volume of 690,626 shares, compared to its average volume of 1,888,652. The company has a market capitalization of $259.11 million, a price-to-earnings ratio of -0.99 and a beta of -0.68. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95. The stock's 50-day moving average price is $5.05 and its 200 day moving average price is $3.36.

Institutional Trading of Amylyx Pharmaceuticals

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in Amylyx Pharmaceuticals by 88.4% in the 2nd 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $2,300,000. Renaissance Technologies LLC lifted its position in shares of Amylyx Pharmaceuticals by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 811,488 shares of the company's stock worth $1,542,000 after purchasing an additional 106,888 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Amylyx Pharmaceuticals by 57.9% during the 2nd quarter. Hsbc Holdings PLC now owns 76,261 shares of the company's stock worth $150,000 after acquiring an additional 27,954 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Amylyx Pharmaceuticals in the second quarter valued at approximately $400,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMLX shares. Baird R W raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Bank of America raised shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their price target for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Finally, Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the stock a "market perform" rating in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.33.

Amylyx Pharmaceuticals Company 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.