Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Up 30.5% in February

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,380,000 shares, a growth of 30.5% from the January 31st total of 2,590,000 shares. Currently, 6.8% of the company's stock are sold short. Based on an average trading volume of 820,300 shares, the short-interest ratio is presently 4.1 days.

Amylyx Pharmaceuticals Trading Up 11.6 %

Shares of AMLX stock traded up $0.35 during trading on Wednesday, reaching $3.36. 749,035 shares of the company's stock traded hands, compared to its average volume of 1,812,488. The firm's 50-day moving average is $3.56 and its 200 day moving average is $3.86. The company has a market capitalization of $230.32 million, a P/E ratio of -0.88 and a beta of -0.54. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.42.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.06). The company had revenue of ($0.67) million during the quarter. As a group, sell-side analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the completion of the sale, the chief executive officer now directly owns 3,201,247 shares of the company's stock, valued at $11,108,327.09. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the transaction, the chief executive officer now directly owns 3,176,788 shares in the company, valued at approximately $12,834,223.52. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,169 shares of company stock worth $97,274 in the last quarter. Insiders own 11.70% of the company's stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after acquiring an additional 4,883 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. Alpine Global Management LLC bought a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter valued at about $45,000. RPO LLC purchased a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth about $46,000. Finally, EntryPoint Capital LLC bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth approximately $53,000. 95.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMLX has been the topic of a number of recent analyst reports. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $3.00 to $11.00 in a report on Monday, November 18th. HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Wednesday. Finally, Baird R W upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of "Moderate Buy" and an average 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.