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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 27.7% from the October 15th total of 1,010,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 1.0 days. Approximately 3.1% of the shares of the company are short sold.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals 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 transaction, the insider now owns 143,801 shares of the company's stock, valued at $460,163.20. The trade was a 7.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George M. Milne, Jr. bought 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. This trade represents a 13.18 % increase in their position. The disclosure for this purchase can be found here. 11.70% of the stock is owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AMLX. Vanguard Group Inc. boosted its holdings in Amylyx Pharmaceuticals by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company's stock valued at $15,189,000 after acquiring an additional 72,573 shares during the period. AQR Capital Management LLC grew its holdings 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 worth $6,348,000 after purchasing an additional 3,224,454 shares during the last quarter. abrdn plc increased its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company's stock worth $6,390,000 after buying an additional 1,853,995 shares during the period. Almitas Capital LLC bought a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at $3,617,000. Finally, Acadian Asset Management LLC purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at $2,300,000. 95.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMLX has been the topic of several recent analyst reports. Bank of America raised Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright lifted their target price on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of "Hold" and a consensus target price of $15.14.

Amylyx Pharmaceuticals Trading Down 5.2 %

Shares of AMLX traded down $0.26 during mid-day trading on Friday, reaching $4.76. The company's stock had a trading volume of 1,579,925 shares, compared to its average volume of 2,023,158. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95. The company's fifty day moving average price is $4.07 and its two-hundred day moving average price is $2.67. The stock has a market cap of $326.29 million, a PE ratio of -1.25 and a beta of -0.70.

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.