Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 42.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,270 shares of the company's stock after selling 219,349 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.44% of Amylyx Pharmaceuticals worth $979,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AMLX. China Universal Asset Management Co. Ltd. boosted its position 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 worth $42,000 after purchasing an additional 5,104 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Amylyx Pharmaceuticals by 5.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company's stock worth $226,000 after buying an additional 6,116 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Amylyx Pharmaceuticals by 88.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company's stock valued at $55,000 after buying an additional 13,509 shares in the last quarter. CWM LLC raised its holdings in shares of Amylyx Pharmaceuticals by 104.2% during the 2nd quarter. CWM LLC now owns 28,643 shares of the company's stock valued at $54,000 after buying an additional 14,613 shares during the period. Finally, Algert Global LLC acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on AMLX shares. 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. Bank of America raised shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Baird R W raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.33.

Amylyx Pharmaceuticals Trading Down 7.9 %

NASDAQ AMLX traded down $0.34 on Wednesday, hitting $3.94. 579,470 shares of the stock traded hands, compared to its average volume of 1,925,604. The stock has a 50-day moving average of $5.07 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. The company has a market capitalization of $270.08 million, a P/E ratio of -1.03 and a beta of -0.68.

Insider Activity

In other news, CEO Justin B. Klee sold 18,589 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider now owns 143,801 shares in the company, valued at $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.70% of the company's stock.

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.