Connor Clark & Lunn Investment Management Ltd. Has $2.85 Million Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 41.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 880,745 shares of the company's stock after buying an additional 258,818 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.29% of Amylyx Pharmaceuticals worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company's stock worth $6,348,000 after buying an additional 3,224,454 shares in the last quarter. Almitas Capital LLC acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $3,617,000. abrdn plc lifted its position in shares of Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company's stock worth $6,390,000 after purchasing an additional 1,853,995 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $2,300,000. Finally, Farallon Capital Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $3,267,000. Institutional investors and hedge funds own 95.84% of the company's stock.

Amylyx Pharmaceuticals Trading Up 7.4 %

Shares of AMLX stock traded up $0.39 on Monday, reaching $5.66. The company had a trading volume of 1,001,621 shares, compared to its average volume of 2,012,035. The stock has a market cap of $387.99 million, a PE ratio of -1.48 and a beta of -0.70. The company has a 50-day moving average of $4.44 and a 200-day moving average of $2.84. Amylyx Pharmaceuticals, Inc. has a 12 month low of $1.58 and a 12 month high of $19.95.

Insider Activity at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 11,442 shares of the firm's 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 sale, the insider now owns 143,801 shares of the company's stock, valued at $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $59,484.80. Following the transaction, the chief executive officer now owns 3,120,569 shares in the company, valued at $9,985,820.80. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMLX. HC Wainwright upped their price objective on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Robert W. Baird raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price target for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Baird R W upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a "market perform" rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their target price for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.43.

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.