Fmr LLC Grows Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

FMR LLC raised its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 292.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 221,001 shares of the company's stock after buying an additional 164,622 shares during the period. FMR LLC owned approximately 0.32% of Amylyx Pharmaceuticals worth $716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company's stock worth $42,000 after buying an additional 5,104 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Amylyx Pharmaceuticals by 5.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company's stock worth $226,000 after acquiring an additional 6,116 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 worth $55,000 after acquiring an additional 13,509 shares during the last quarter. CWM LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company's stock valued at $54,000 after purchasing an additional 14,613 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX traded down $0.34 during trading hours on Wednesday, hitting $3.94. 579,470 shares of the company's stock were exchanged, compared to its average volume of 1,925,604. The business's 50 day moving average is $5.07 and its 200-day moving average is $3.20. Amylyx Pharmaceuticals, Inc. has a 12-month low of $1.58 and a 12-month high of $19.95. The firm 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, insider Camille L. Bedrosian sold 11,442 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This represents a 7.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, September 30th. The shares were 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 in the company, valued at $9,985,820.80. The trade was 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.

Analyst Ratings Changes

Several brokerages recently issued reports on AMLX. Bank of America upgraded Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the stock a "market perform" rating in a report on Friday, October 18th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, Baird R W raised 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $7.33.

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.