Charles Schwab Investment Management Inc. trimmed its holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 42.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,270 shares of the company's stock after selling 219,349 shares during the period. Charles Schwab Investment Management Inc. owned about 0.44% of Amylyx Pharmaceuticals worth $979,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in AMLX. China Universal Asset Management Co. Ltd. grew its holdings in Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company's stock valued at $42,000 after buying an additional 5,104 shares in the last quarter. Algert Global LLC purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at $47,000. CWM LLC increased its position in Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company's stock worth $54,000 after purchasing an additional 14,613 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Amylyx Pharmaceuticals by 113.6% during the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company's stock valued at $106,000 after buying an additional 29,697 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.
Insider Buying and Selling at Amylyx Pharmaceuticals
In related news, CEO Justin B. Klee sold 18,589 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 value of $59,484.80. Following the completion of the transaction, the chief executive officer now owns 3,120,569 shares of the company's stock, valued at approximately $9,985,820.80. This represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of the 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 $36,614.40. Following the transaction, the insider now owns 143,801 shares in the company, valued at $460,163.20. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.70% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on AMLX. Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research note on Friday, October 18th. HC Wainwright reissued a "buy" rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Thursday, December 5th. Baird R W upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Bank of America raised shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their target price for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.33.
Read Our Latest Analysis on AMLX
Amylyx Pharmaceuticals Stock Up 0.5 %
Shares of NASDAQ:AMLX traded up $0.02 during midday trading on Wednesday, reaching $4.30. The company's stock had a trading volume of 24,565 shares, compared to its average volume of 1,923,269. The firm has a market capitalization of $294.76 million, a PE ratio of -1.12 and a beta of -0.68. The stock has a fifty day moving average of $5.06 and a 200 day moving average of $3.20. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $19.95.
About Amylyx Pharmaceuticals
(
Free Report)
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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