Jane Street Group LLC Sells 146,934 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Jane Street Group LLC decreased its holdings in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 29.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,173 shares of the company's stock after selling 146,934 shares during the period. Jane Street Group LLC owned about 0.50% of Amylyx Pharmaceuticals worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Amylyx Pharmaceuticals by 292.0% during the 3rd quarter. FMR LLC now owns 221,001 shares of the company's stock worth $716,000 after purchasing an additional 164,622 shares in the last quarter. abrdn plc raised its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company's stock valued at $6,390,000 after acquiring an additional 1,853,995 shares during the last quarter. Alpha Wave Global LP bought a new position in Amylyx Pharmaceuticals in the 3rd quarter valued at $2,169,000. Almitas Capital LLC acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth about $3,617,000. Finally, Acadian Asset Management LLC bought a new position in shares of Amylyx Pharmaceuticals in the second quarter worth about $2,300,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX traded down $0.03 during trading hours on Monday, hitting $3.84. The stock had a trading volume of 562,221 shares, compared to its average volume of 1,893,424. The business's 50 day moving average is $5.07 and its 200-day moving average is $3.34. The company has a market cap of $263.22 million, a price-to-earnings ratio of -1.01 and a beta of -0.68. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $19.95.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America raised shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research note on Friday, October 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $3.00 to $11.00 in a report on Monday, November 18th. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. 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 given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.